Short-term rebound and breakthrough of upward pressure are the key points. Maintaining the breakthrough of the range pressure is the key to continue the upward trend!

After experiencing a decline this week, the overall trend of Bitcoin is currently oscillating around the lower support, forming a bottoming pattern. The short-term support below is still quite evident after the retracement and decline. The short-term trend is also oscillating around the lower support. In the daily trend, it is gradually breaking through the support of the MA60 moving average from below, still in the phase of bottoming and moving upward. The current chart indicators are also in a low-level upward state. Therefore, for the subsequent market trends, there is a possibility of a small-scale upward movement in the short term, with the upper pressure at 27300-27500. Only by breaking through the pressure can the upward trend continue. It is sufficient to maintain the breakthrough of the range and other pressures!

As for the Ethereum market, after reaching the lower support at 1516, the short-term daily trend also shows three consecutive bullish candlesticks. Since it has already closed above the support, confirming the support for the subsequent market trend, the focus is on the bottoming situation of the support. As the current chart indicators are also in an upward state, the strength of the subsequent upward movement can be observed. The upper pressure can be broken through at around 1600-1610. If the upper pressure can be broken through, then it can continue to move upward for the long term!

(Note: Due to the impact of timeliness, the article is recommended for reference only.)

Please refer to real-time advice within the group!

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