Market Sentiment:
Chart Analysis:
Bitcoin (BTC):
The 1-hour chart structure of Bitcoin (BTC) is as expected. The downward movement of Bitcoin (BTC) yesterday was not significant, and the pin bar was once again retracted, indicating the continued construction of a 1-hour consolidation zone. Overall, there isn't much directional movement, and it is in a low-volatility oscillation. The direction will depend on the consolidation zone, and if it moves downward, personally, I believe there isn't much room for further decline. It is very likely to see a rebound at a higher level and return to the consolidation zone.
The 15-minute chart structure of Bitcoin (BTC) shows that the current trend left the pin bar yesterday, completed a pullback, and continued to oscillate within the consolidation zone. It remains to be seen if it can break the 25900 level, but even if it does, it is likely to be blocked around 26150. Overall, the market is in a low-volatility oscillation. However, to be honest, the pressure at these levels is not significant. If there is a buying behavior, these levels can be broken through all at once. The main reason is that these pressures are relatively small and will not form significant resistance. The major resistance may be in the range of 29,000 to 30,000.
Ethereum (ETH):
The 1-hour chart structure of Ethereum (ETH) also experienced a pin bar and continued to oscillate within the consolidation zone. There is still not much direction here, and the view is similar to Bitcoin (BTC). If it chooses to move downward, there isn't much room, and it is very likely to see a higher-level rebound trend.
Trading Strategy:
Invest with caution. This article is not intended as a basis for buying or selling.
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