The decline of Bitcoin has not yet ended, with the rebound testing the support-resistance exchange level at 107,000. The daily strong sell combination, along with the evening star pattern, indicates that breaking below the 107,000 support has currently turned the rebound into resistance. There is still not enough time and space, and a three-wave decline remains possible.
Ethereum has maintained a high-level fluctuation, with the weekly chart showing a throwback pattern, and we continue to be bullish. The daily support is at 2,300, and buying in batches near this area is advisable, as there may be opportunities for a spike.
The movement of the U.S. stock market is indeed quite tangled at the moment, having oscillated in a narrow range for over ten days, and is only a few points away from the previous high. It has also completed the 0.886 of the harmonic pattern and continues to rebound. We should pay attention to the ongoing analysis of the U.S. stock market by the analyst, and it is crucial to note the lagging impact of tariffs. An economic recession is inevitable, so we need to see if the impact of tariffs will trigger this issue.
Bitcoin
After a false breakout on the daily chart, it fell back, breaking the upward trend. Currently, it is still in a weak correction. The four-hour chart has formed an upward channel, and it is currently below the resistance of the 107,000 support-resistance exchange level. Given the strong movement of the U.S. stock market, along with the news that Lee Jae-myung has been elected as the president of South Korea—who previously promised to push for the approval of cryptocurrency ETFs and proposed issuing a stablecoin based on the Korean won—short-term attention should be paid to the impact of news.
The CME gap is between 96,000 and 98,000, and the false breakout drop also occurred near 98,000. Today, the rebound touched the middle band of the Bollinger Bands and faced pressure, with 100,000 being a key support level. These two areas can be bought in batches.
Support: 96,000—98,000—100,000
Resistance: 107,000—110,000—112,000
Ethereum
The weekly chart showing a throwback pattern is a bullish signal. This wave has corrected similarly to Bitcoin, and there is a chance to continue forming a large bullish candle, targeting 3,300.
The daily chart has oscillated for more than half a month, still remaining between 2,300 and 2,800. The 2,800 level serves as a critical dividing line between bulls and bears and is still effective. Moreover, from a weekly perspective, Ethereum may undergo a large-scale fluctuation. Once it breaks through 2,800 to 3,300, there may be an opportunity to reach 4,000.
Support: 2,100—2,200—2,300
Resistance: 2,800—3,300—4,100
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