2024.05.08 Wednesday
After continuous decline, has the bearish trend formed?
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- Daily chart: After breaking below the 60,000 support level, the price returned above it. If the subsequent pullback does not break this level, there is still a potential for further upward movement.
- 1-hour chart: After a short-term dip below the 62,500 support level, the price has been oscillating nearby. If it effectively breaks below this level, the downward space may expand.
II. Ethereum
- Daily chart: After testing the 3,100 support level, the price has been oscillating. If the subsequent oscillation does not break this support, the upward trend may continue.
- 1-hour chart: After breaking below the 3,080 support level in the short term, the price continued to decline. If the rebound does not break this level, there is still a potential for further decline.
I. Bitcoin
- Yesterday's view:
Summary: After a short-term break above the 62,500 level, the price has been oscillating. If the subsequent pullback does not break this support, there is still potential for further upward movement. Resistance above is at 65,700 and 68,500; if it breaks below, it may enter a pullback trend again, with support at 61,000 and 58,800.
- Subsequent trend:
The subsequent trend maintained oscillation after the pullback did not break the 62,500 level, reaching a high of 64,392.
II. Ethereum
- Yesterday's view:
Summary: After a short-term break above the 3,080 level, there was a pullback. If the subsequent test does not break this support, there is still potential for further upward movement. Resistance above is at 3,220 and 3,370; if it breaks below, it may enter a pullback trend again, with support at 2,960 and 2,830.
- Subsequent trend:
The subsequent trend continued to decline after breaking below the 3,080 level, reaching a low of 2,993.
I. Bitcoin
Summary: After a short-term dip below the 62,500 level, the price has been oscillating nearby. If the subsequent trend effectively breaks below this level, the downward space may expand, with support at 60,000 and 57,200; if it stabilizes above this level, there may be a rebound trend again, with resistance at 65,000 and 67,100.
II. Ethereum
Summary: After a short-term break below the 3,080 level, the price continued to decline. If the rebound does not break this level, there is still potential for further decline, with support at 2,900 and 2,790; if it breaks above, there may be a rebound trend again, with resistance at 3,210 and 3,340.
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