After Bitcoin hit a new low, it rebounded. The descending wedge breakout is still a pullback. Influenced by the low opening of the U.S. stock market, it spiked up to 98062 before retreating, while Ethereum continues to experience narrow fluctuations.
The Dow Jones opened lower and, as of the time of writing, is down 0.89%. The Nasdaq is down 0.82%, and the S&P 500 is down 0.66%. Recently, Bitcoin has not shown much correlation with the S&P 500. As long as the U.S. stock market does not reach a new high, the ongoing high-level fluctuations are relatively difficult to operate.
Bitcoin
The daily BOLL is under pressure, and this is also a return to the descending channel. I have always reminded to wait for a second probing opportunity. The daily rebound is under pressure from the BOLL middle track, which is also near the top of the short-term fluctuation box. Therefore, we still need to see if the descending wedge and the BOLL middle track can be effectively broken through to see a higher rebound. If it cannot break through 102456 or even 104000, there may be further downward opportunities.
Support: Pressure:
Ethereum
There isn't much to say; it is still in narrow fluctuations, and maintaining fluctuations for a long time in a downward trend is very unfavorable. Therefore, we are still looking at the rebound strength of 2920—3100—3300. If these key pressures cannot be recovered, the outlook is not optimistic.
In the short term, all lows have slightly risen, but the key pressure has not been broken. As long as it does not fall below 2520, the strategy remains to buy on dips.
Support: Pressure:
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The article is time-sensitive and for reference only; it is updated in real-time.
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