Saturday Jingyi's Market Analysis

Yesterday, Bitcoin tested new lows again, touching around 724, then rebounded to 742, moving within an 1800-point range, with not much strength. Currently, BTC and ETH are both in a low-volatility correction phase after a decline, overall showing a weak rebound, and no clear reversal signal has formed yet.

From the 4-hour timeframe, they are still under the middle band resistance, mainly showing a "consolidation and bottoming + weak correction" pattern in the short term. The rebounds are technical corrections after a decline, not yet breaking through the middle Bollinger Band and key resistance levels. The trend has not reversed, and blindly chasing longs is very risky. If BTC drops below 720 and ETH below 1960, the downtrend will be confirmed again.

The Bollinger Bands are operating below the middle band, with the upper band continuously opening downward, and the lower band slowly moving down. The weak channel is clear, with the middle band around 741 being a short-term strong resistance level.

First resistance for Bitcoin is 741, second resistance is 760;
First support is 724, second support is 720.

Operation: If the rebound reaches the 736-742 zone and faces resistance and falls back, consider a light short position, targeting 730-725; if it breaks below 724, the downtrend is likely to continue.

First resistance for Ethereum is 2025-2030, second resistance is 2090;
Support levels: first support 1975, second support 1960.

Operation: If the rebound reaches the 2025-2030 zone and faces resistance, consider a light short position with a stop loss at 2050, targeting 2000-1980; if it breaks below 1975, the downtrend will continue.

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