Bitcoin, Ethereum recent trend analysis

After Bitcoin broke its historical high, it has been declining steadily, currently pulling back around 17,000 points, with a pullback range of about 14%. Recently, Bitcoin has been falling quickly and rising slowly, so the profits from going long are not substantial, and it is quite torturous. In previous articles, the support zone for Bitcoin was mentioned to be between 108,000 and 106,000, and it's a good time to boldly lay out long positions. Yesterday, the lowest point happened to be around 107,300. For those with long positions at this level, it’s worth holding, setting a trailing stop to prevent a potential second pullback at night. If there is a second pullback near 107,300 that does not break, you can boldly enter long positions, as the risk-reward ratio at this level is very favorable. The weekly and monthly candles are about to close, and generally, when closing such large-scale K-lines, there will be some action.
The resistance above Bitcoin is at 110500, 112600, and 113500, while the support below is in the range of 108000 to 106000, and further down is near 105100. Today, Bitcoin is expected to rebound around 110500; only by breaking through this level can Bitcoin continue to rise. If it falls below 108000 today, there is a high possibility that it will continue to go down.
Ether has retraced nearly 700 points from its peak to its lowest point, with a retracement of about 14%, which is similar to the retracement of Bitcoin. Before Ether breaks below 4200, bulls or spot holders do not need to panic too much.
Ethereum rebounded today, looking at resistance near 4514, 4610, and 4670, while support is seen near 4330, 4260, and 4210. Today's rebound is focused on the 4442 level; only by stabilizing at this position can Ethereum continue to rise. There are opportunities for long positions in the area around 4330 and 4200. If Ethereum breaks below the 4050 level, we will look to set up long positions in the range of 3880 to 3950.
The trading volume over the weekend is small, with little volatility. For those holding long positions, you can be a bit patient and hold on; the direction should emerge in the evening. Trading can be very difficult, but it can also be very simple! You will always find a set of trading rules that suit you!

#ETH走势分析#