Yiming's Trading Diary

All content in this article is personal opinion, for learning and communication only, not as a basis for investment. The risk is at your own.

Last night, BTC hit a new low again. This new low is somewhat different, breaking through the 38.2% Fibonacci retracement level and approaching the 50% level at 55812. However, the daily chart still leans bearish, and the next key support should be the 61.8% retracement level at 54178. This level is close to the vital support at 53925, forming a resonance. Those looking to enter the spot market can seize this opportunity.

About Ethereum

The retracement of Ethereum yesterday was smaller than that of BTC, still at the 38.2% level. This is related to the exchange rate. As mentioned in previous episodes, the exchange rate is currently at a turning point on the monthly chart, making it prone to turning upwards. This is a time when it's easy to reverse the mindset that Ethereum is weaker than BTC.

Key resistance levels for intraday fluctuations

BTC: Upper 58665~58845, Lower 53925~54178

ETH: Upper 2612~2621, Lower 2370~2450

For those doing intraday short-term trading, you can refer to the above ranges.

Message: Your own umbrella is better than anyone else's roof.

This article is original content by Yiming. For more information, you can follow the public account "Yiming's Trading Diary" to get the latest cryptocurrency news at the first time.

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