Market Review Analysis

BTC failed to reach the expected resistance level of around 64500 after yesterday's early morning surge to 64000. It formed a double top position on the hourly chart level with the previous resistance level around 638. Throughout the day, there were multiple attempts to rebound but all ended in failure. The market retraced near the support level around 62000 in the early morning. ETH showed relatively weak performance yesterday, only reaching the level of 3500 points on the intraday level before pulling back. It found support near 3400 during the synchronized decline. When BTC and ETH pulled back by 1-2 percentage points, altcoins basically remained quiet without much pullback. Instead, some coins rebounded, although not very strong, they did not show the previous state of falling along with the decline. The market is currently adjusting step by step, and the performance of FLOKI can be followed recently.

Today's Highlights
After the BTC hourly chart came down in the early morning, it entered a consolidation phase. Intraday, first look at the support level around yesterday's low point of 61800. If it breaks below, pay attention to the long wick candle retracement to the range of 612-616. On the intraday level, the hourly chart is oscillating, and the rebound strength on the four-hour chart is not very strong. Pay attention to whether the four-hour chart can close steadily around the 62200 level. Intraday, the first resistance level to watch is around 63200, and the second resistance level to follow is the range of 64000-64500.

The performance of ETH is indeed weak. On the hourly chart, it has formed a small downward channel, but it stabilized at 3400 points, which provides some buffer for the current market. However, the rebound is weak, and the volume is very low. On the daily level, pay attention to the support level near the 3400 mark, which is also a low point position from yesterday. The resistance level on the short-term level can be seen at the 3440-3460 range. Once it breaks through and rises, we can see the resistance level at the 3480-3520 range on the short-term level again. In order for the market to gain momentum, it needs to break through and stabilize at the 3520 mark, then it can reach the 3560-3600 range.