This column focuses on sharing major mainstream cryptocurrencies such as BTC/ETH/EOS/XRP/ETC/LTC/DOGE. Follow the public account "Yanbi" to avoid getting lost and enjoy more service guidance.

Bitcoin has further retraced into the lower range, with the decline expanding close to the 9.3 line.

The excessive drop in Bitcoin has led to a breach of the 9.45 support level we were monitoring, resulting in short-term damage.

However, even with the expanded decline and deep retracement, it ultimately recovered back to the starting point, indicating that there is still significant rebound demand in the current trend.

The purpose of yesterday's downward movement was likely to alleviate the burden on bulls and further stimulate bearish sentiment in the market, which may lead to a subsequent upward breakthrough above 9.8, potentially reaching over 100,000.

Current bullish reference point: 9.5

Cycle resistance level: 10.1

Cycle support level: 9.4

PS: In terms of upward strategy, continue to monitor 9.8. After reaching 9.8, consider taking partial profits and reducing positions, with the remaining looking towards the cycle resistance at 10.07.

The retracement of Ethereum is still within an acceptable range.

Currently, the bullish strategy remains to target 2750 and 2850.

Today, pay attention to the support entry point in the 2650-2600 range, which allows for two batches of short-term entries, or prepare for a first entry followed by a supplementary entry.

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