The big cake retraced and fell short of expectations in the short term, and is expected to continue to rise after forming a bottom!

Yesterday, the big cake also experienced a short-term decline, reaching a low of 27676, without a significant retracement, only a short-term trend, which is not satisfactory. The morning daily closing also formed a small negative candlestick, ultimately closing below the pressure of MA100 and MA200. The resistance above is still quite obvious, and the market has not experienced a significant retracement. However, the current chart indicators are still at high levels. To continue the short-term breakthrough, it is still necessary to continue to accumulate before rising. Therefore, there is still some pressure above. The support below is still in the range of 27500-27300. In the short term, it is still necessary to consider the support after the retracement before considering the subsequent rise, or to continue the current range. Wait for the mid-week market, exchange time for space, accumulate before continuing to rise!

As for Ethereum, the market retraced to a low of 1616, and the support below at 1610-1620 was successfully reached. The market also retraced to the support below and rebounded smoothly, still within the planned operation. Currently, the intraday market is still oscillating around the lower support, with the daily moving averages MA20 and MA30 still providing support. The trend of the chart indicators is also in a low-level upward trend. For the subsequent market, it can wait for support at 1610-1620, accumulate support, and then wait for the breakthrough of the upper resistance. The resistance above is at 1660, and once it breaks through, it can continue to rise to 1750, continuing the current range until the range opens!

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