Market Sentiment:
Chart Structure:
Bitcoin:
The structure of Bitcoin on the 1-hour chart remains unchanged. After the pullback to the 0 axis as mentioned yesterday, the market chose to continue extending upwards. However, the overall extension is mostly sideways, with little change. The upper limit is around 26150. It remains to be seen whether it can be broken through. Even if it does, there will still be a third downward movement on the 1-hour chart. Of course, the market can also wait for the second movement to reach a certain height before directly following the trend of a 1-hour center, but the probability of oscillation is still relatively high for the current market. The main thing is that it does not require much cost, just maintaining the price.
The structure of Bitcoin on the 15-minute chart appears to be forming an expanding center, but overall, it is still in a process of upward oscillation, with limited upward space. For the subsequent trend, it is estimated that it will return to oscillation. The current market is in a state of low sentiment and liquidity. However, there has been no improvement in the fundamentals, so maintaining an oscillating trend is the best choice.
Ethereum:
The structure of Ethereum on the 1-hour chart is similar to yesterday's. It is still in the process of the second movement on the 1-hour chart, continuing the extension. The trend remains largely the same. Currently, the market is in a state of depleted liquidity, with no sustainable force to drive it. We can only hope for significant events to occur in the future, such as the approval of ETFs, halving, or future interest rate reduction policies.
Trading Strategy:
Invest with caution. This article is not intended as a basis for trading decisions.
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