Bitcoin fell by 3% yesterday with a volatility of 7%, Ethereum dropped by 7.3% with a volatility of 12.42%, and altcoins suffered a significant decline of 20-30%, facing a setback. In this wave of market movement, altcoins have experienced a considerable pullback. After touching the 100,000 mark, it has quickly become a pressure zone. Yesterday's market analysis indicated that it would test the pin insertion area support before continuing to rebound, which aligns with our predictions from yesterday.
Currently, it is still within the ascending channel and has not completely broken below the BOLL middle track, so from the K-line and technical indicators, a rebound is expected, with Ethereum leading the altcoins. It is recommended to reduce positions on rebounds at high points (mainly for long-term wave trading without worries).
Bitcoin
The daily MACD and RSI have diverged for a long time, and the price reaching a new high cannot change the inevitable pullback. After the BOLL contraction, if the subsequent rebound cannot create a new high or falls back after reaching a new high, it will exacerbate the future market pullback.
We previously mentioned that a pullback is an opportunity for medium to long-term positioning, with the first accumulation position at 90,800 and the second accumulation position at 80,000-85,000.
Support: Pressure:
Ethereum
The previous high of 4,093 was rejected, and it has currently pulled back to the BOLL middle track support, which also tests the previous descending trend line support from 4,093 to 3,977. A short-term rebound is expected, but if it cannot break through 4,093 later, positions should be reduced.
Support: Pressure:
SOL
The daily chart shows a descending channel, with the price dropping to 203, which is also a previous support area. A short-term rebound is expected, but if it cannot break through the BOLL middle track and the upper edge of the channel, it will continue to decline.
Support: Pressure:
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The article is time-sensitive and for reference only, with real-time updates.
Focusing on K-line technical research, sharing global investment opportunities. Public account: Trading Prince Fusu
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