24/09/10BTC rebounded to 58088 and touched the downward channel in 4 hours. What will happen to the market next?
Last night, U.S. stocks rebounded, with the Dow Jones up 1.2%, the S&P 500 up 0.86%, and the Nasdaq up 1.16%. Bitcoin rebounded to 55,813 last night and then fell to 54,804, and then accelerated to 58,088. There was a reminder when it just broke through in 4 hours, and the rebound saw 57,600-58,500. There was also a reminder when the small platform broke through 54,800 during the day.
Ethereum also quickly pulled back and then rose sharply to a high of 2381, and at the same time it just touched the 4-hour downward trend line under pressure.
The cryptocurrency panic and greed index is currently at 33, and panic sentiment continues to ease. 120 million short orders were liquidated in 24 hours. BTC spot ETF had an inflow of 34.6 million yesterday, while ETH spot ETF still had an outflow of 5.2 million.
Flatbread
The falling trend line of Bitcoin from 65000 to 59800 was broken, but the upper edge of the recent falling channel was not broken. Here we will focus on whether the support line of 55555-56000 will continue to rebound to break through the upper edge of the channel. The daily line shows signs of bottom divergence, and KDJ crosses, so there is a chance to challenge 61500-62000.
If it cannot hold up, it is suspected of inducing longs and exploding shorts. The rebound in the evening did not recover the two key pressures of 57200, the previous double-yin-yang bottom, and at the same time, it was under pressure below 58500. This wave of decline is somewhat similar to the previous 72000-53500 wave. The key lies in the support of 55555-56000.
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ether
Judging from this wave of Ethereum's decline, the rebound did not break through 0.382 and it was still a weak rebound. The 4-hour level was also suppressed by the downward trend line. It remains to be seen whether the rebound after the correction can effectively break through. The 1-hour level has taken a not-so-standard upward channel, and the rebound pressure is 2400-2600.
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