The trend we predicted on September 16th is still continuing. The daily chart has been in a narrow range oscillation for 5 days and still belongs to the bullish trend. We are paying attention to the opportunity for a rebound after a pullback to 59600-60600.
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In the US stock market, the Dow Jones and S&P 500 hit new highs without falling back, while gold in London continues to rise. Since the sharp drop of the Nikkei Index on August 5th, although the rebound has been good, there is a possibility of a second or even third sharp drop similar to the one on August 5th after hitting a historical high and oscillating at a high level for 7 months.
Bitcoin (BTC) The daily chart is under pressure below 65000, with 5 doji candles indicating neckline pressure. There is a chance for a pullback and rebound after a breakout from the converging triangle.
The support is being tested at the lower boundary of the 4-hour ascending channel. If it falls below 62350, the probability of a pullback increases. If it does not fall below, it will maintain a narrow range oscillation with a potential for further rebound. We reminded yesterday that BTC formed a bearish divergence with RSI on the 4-hour chart, which needs attention.
Support: Resistance:
Ethereum (ETH) Recently, the rebound of Ethereum and other altcoins has been good, with the ETH/BTC exchange rate returning to 0.04. However, the Ethereum Foundation has sold a total of 200 ETH, equivalent to about $530,000, which has left people puzzled due to a series of operations by V God and the Ethereum Foundation since the drop to 4000.
Ethereum rebounded to a high of 2703, touching the previous box pressure, and further upward movement will face the pressure of 2800-2820, which is the boundary I consider for the bullish and bearish trends of Ethereum. Although there have been upward and downward breakouts, the 4-hour chart shows a divergence and a potential rebound opportunity at 2460-2520.
Support: Resistance:
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