Bitcoin has dropped nearly 10,000 points from its peak. On the early morning of the 24th, a warning was issued about the risk of a pullback, and during the day, a reminder about liquidation risk was given, along with a note that key support levels should not be broken. This trend has not yet completed its correction, and there may still be opportunities to enter. It has now broken below the first CME gap, so we need to pay attention to whether the second gap will be filled.
The New York Stock Exchange has applied to the U.S. SEC to list Bitwise Bitcoin and Ethereum spot ETPs. The launch of this ETP is pending approval of the 19b-4 application and the effectiveness of the S-1 registration statement.
Long-term Bitcoin holders have sold 728,000 BTC in the past 30 days, the highest level since April.
Bitcoin
Bitcoin has broken below the upward trend and rebounded last night, continuing to face downward pressure. The daily correction has not yet ended and is expected to complete in early next month. The breakout at 74,000 is considered the first wave, and we are currently in the correction of the second wave, with a potential upward third wave to follow. It may reach a peak of sentiment before Trump takes office. However, it is currently close to a dense accumulation area, so we need to be aware of short-term rebound demand. The 4-hour chart shows a descending wedge, and it may continue to test the bottom and rebound.
The 4-hour BOLL is opening downwards, with signs of a crossover between MA20 and MA60. Watch for a breakout of the descending wedge on the 4-hour chart, with a rebound target around 96,000.
Support: Pressure:
Ethereum
The daily chart shows two engulfing patterns, and the corrective rally has not widened the gap, directly affected by Bitcoin's pullback. It is currently near support, and in the short term, there is still a chance to drop back to around 3014.
SOL and Bitcoin have a certain similarity in their movements, with a false breakout after reaching new highs, and a pullback to 180-200 for gradual entry. We will continue to share more altcoins. Support: Pressure:
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This article is time-sensitive and for reference only, updated in real-time.
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