Recently, the Crypto Assets market has seen a wave of pump, but whether this rise can be sustained is worth our in-depth analysis.

In the short term, the price of Bitcoin has indeed seen a rise, but a closer look at its 1-hour and 4-hour candlestick charts reveals that this pump may not be stable. On the 1-hour line, the price has been gradually pushed up slightly, but the trading volume distribution is uneven, and the relative strength index (RS) is approaching a high of 76. This rapid rise may have overstretched market momentum, and a correction is very likely.



The signals on the 4-hour chart are more pronounced. When the price approaches 116500, various technical indicators show signs of a top divergence. The MACD indicator also shows signs of peaking after the surge. Although the rebound appears to be vigorous, it may actually be the last struggle before the selling pressure above.



Based on the current market conditions, I have a cautious attitude towards the trend of Bitcoin. If the price is in the range of 116500-117000, it may face downward pressure, and the next support level could be around 114300. If it breaks below this level, it may further probe down to 112000. From a long-term perspective, the possibility of reaching 105000 cannot be ruled out.



Similarly, I hold a similar view regarding Ethereum. If the price is in the range of 4320-4350, it may face a risk of retracement, with the next support level possibly around 4200. If it breaks below this level, it may further decline to 4080. From a long-term perspective, it could even test the level of 3300.



It is important to note that the Crypto Assets market is influenced by multiple factors, including but not limited to U.S. government policies, the approval progress of Bitcoin ETFs, and so on. Investors should take these factors into consideration when making decisions and remain vigilant at all times