Market Sentiment:
Chart Structure:
Bitcoin:
Structure of Bitcoin on the 1-hour chart. Currently, Bitcoin is still oscillating within this consolidation zone on the 1-hour chart. However, personally, it seems increasingly difficult for it to go down. If the market breaks through 26,000, there may be an upward trend, and overall, it is estimated to follow an upward trend on the 4-hour chart. However, the extent of this trend remains to be seen, and the CPI for this week also needs to be monitored. The US dollar index has reached a significant resistance level. If the US dollar retraces, it may provide some breathing room for risk assets. Therefore, Bitcoin may be able to see an upward trend in comparison.
Structure of Bitcoin on the 15-minute chart. Currently, Bitcoin is in the first wave of the 15-minute chart. This wave has not yet finished running, and it is estimated that it could reach 26,000. If it can break through the 26,000 consolidation zone, it would be even better. Even if it does not break through and retraces in the first wave of the 15-minute chart, as shown in the chart, it will depend on whether it can break through 26,000 in the third wave of the 15-minute chart.
Ethereum:
Structure of Ethereum on the 1-hour chart. The trend of Ethereum's structure is clearly weaker compared to Bitcoin, mainly due to the issue of liquidity depletion. Due to the lack of liquidity, the volatility is greater than that of Bitcoin, but both are experiencing downward movements. If Bitcoin breaks through the consolidation zone, Ethereum's strength in breaking through the consolidation zone is also likely to be limited. Therefore, it is still better to focus on Bitcoin for trading.
Trading Strategy:
Invest with caution. This article is not intended as a basis for buying or selling.
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