Market Sentiment:
Chart Analysis:
Bitcoin (BTC):
The structure of BTC on the 1-hour chart is still in the extension of the previous 1-hour trend. If there is no fall back to the center, there will be an opportunity for a "buy" signal on the 1-hour chart. Currently, apart from the short-term divergence on the 1-hour chart, the overall trend is relatively normal. We need to observe the strength of the second pullback below the 1-hour chart after the divergence to see if it can hold at the support level of 26,000. If it holds, there may still be an opportunity to reach around 27,500.
The structure of BTC on the 30-minute chart shows that yesterday's trend formed a converging triangle pattern, which is also a breakout of an ascending triangle. Currently, there have been consecutive instances of divergence after the breakout, and the departure pen has entered the stage of divergence. Therefore, the risk of a pullback has significantly increased, so short-term attention is needed to the risk of a pullback.
Ethereum (ETH):
The structure of ETH on the 1-hour chart shows that it has finally pulled back to the previous 1-hour center. We need to observe the strength of the subsequent pullback. However, it is highly likely that it will not fall below the previous low. The difference with BTC is quite significant; BTC has broken through the center, while ETH has only pulled back within the center and maintained oscillation. However, ETH still has the potential for a third upward movement on the 1-hour chart. We need to observe the strength of the upward movement and whether it can break through the 1-hour center.
Trading Strategy:
Invest with caution. This article is not intended as a basis for trading decisions.
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