The Bitcoin monthly line is about to close, currently oscillating around 118,000, so we need to pay close attention to next month's opening. From the monthly line perspective, the upward trend remains. The weekly line has switched to the Singapore opening price line, and there have been three consecutive doji candles, which is a signal to look bullish. Therefore, the first week of next month is often a time when the market can change direction easily.

Ethereum's monthly line has increased by 50% and is now below the pressure zone of 4,000 to 4,100. From the weekly MACD perspective, there is a clear bullish divergence, indicating a chance to challenge the resistance. However, in the short term, we still need to focus on two important support levels: 3,670 and 3,500.

Bitcoin

Last night, following Powell's hawkish remarks, it dipped to 115,700 before quickly rebounding back online, currently around 118,000. Since the V reversal on the 25th, the 4-hour level has formed a descending channel, breaking out during the day but then falling back. In the short term, we should pay attention to the support at 116,880 and 115,700. If the current descending channel breaks upward, there is a chance to reach around 121,000. The daily line still reflects the issue I have been mentioning; the MACD has been crossing below the zero line, so we are waiting for the opportunity to flip above the zero line.

At the same time, on the daily line, we can see the price oscillating around the 20-day moving average, which is not a very good signal. In a strong market, it would not easily break below the 20-day moving average. As I mentioned earlier, we should focus on the two previous support levels; as long as these two supports hold, the risk is relatively small.

Ethereum

The 4-hour chart is still in an ascending triangle oscillation. Although it previously reached a high of 3,940, it quickly fell back and is currently maintaining the ascending triangle with two key supports at 3,676 and 3,500. Additionally, on the daily line, it has been oscillating around the 5-day moving average, and the daily MACD has also crossed above the zero line.

Given this situation, I hope Bitcoin can quickly establish a direction; otherwise, the adjustment time or oscillation time for Ethereum will be prolonged. At the same time, we notice that some altcoins are experiencing larger pullbacks, which requires attention.

Support: 3,500—3,677

Resistance: 3,860—3,940

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The article is time-sensitive and for reference only, with real-time updates.

Focusing on K-line technical research, sharing global investment opportunities. Official account: BTC Trading Master Fusu

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