The median rebound encounters resistance, patiently waiting for a second probe to enter the market.

CN
4 hours ago

Hello everyone, this is the Limu Channel. Today is Monday. Due to some matters, this article is coming a bit late, but it does not affect our mid-term perspective given last week's drop of Bitcoin to 80,600 and Ethereum to 2,620. Over the weekend, we added two target points for the upward movement, which are Bitcoin at 86,200 and Ethereum at 2,820, as well as Bitcoin at 88,000 and Ethereum at 2,880. The market has moved exactly as predicted.

I believe that friends who closely followed the market have more or less benefited from this round of Bitcoin's nearly 7,000 points and Ethereum's nearly 300 points range.

Returning to the present, Bitcoin is currently fluctuating around the 86,000 mark. The MACD on the smaller time frame is entangled around the zero axis, while the larger time frame is closing with a golden cross upwards. The maximum price has reached a resistance level, indicating that the current price is in a state of significant divergence. The median support gives buying hope, but the bearish trend dominates, preventing the market from breaking upwards.

Ethereum's movement is basically consistent, but structurally, it is easier to look for an upward breakout. Currently, we only need to pay attention to the upward breakout at 2,830, which could lead to a second increase around 2,880, and there is even hope to reach the resistance level of 2,950. However, at present, it seems that this cannot be satisfied, so another round of 4-hour downward movement seems more reasonable.

Therefore, at this moment, it is recommended to prioritize observing a downward movement, waiting for Bitcoin to re-touch the lower channel support below 83,000, and Ethereum in the range of 2,650-2,700, forming a structural double bottom before entering a long position with the previous low as defense. At that time, the target will be very clear.

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