Over the past 48 hours, the conflict between the Houthis and Saudi Arabia has escalated. Oil prices are nearing the 100 mark again, and gold is also heading toward its previous low of 3948. In this broader environment, even if the Nasdaq has bottomed, it will still need some time to consolidate and build a base.
In the short term, given the Nasdaq’s steep drop on the hourly chart, an immediate V-shaped rebound seems unlikely, although there are signs of a short-term retest and stabilization. But the daily chart still shows a bearish pattern of a failed rebound, and around 25800 is where an entry on a second test at the daily-chart level would make sense. Also, the first three days of this week have just seen a rebound, and a direct drop afterward would form an engulfing pattern. We can patiently wait a bit—there might even be the pleasant surprise of a new low. So we can look forward to Bitcoin breaking below 81000 and testing 80000. If it breaks down with a long wick, I’ll come back and load up aggressively!
$BTC $ETH $SOL
In the short term, given the Nasdaq’s steep drop on the hourly chart, an immediate V-shaped rebound seems unlikely, although there are signs of a short-term retest and stabilization. But the daily chart still shows a bearish pattern of a failed rebound, and around 25800 is where an entry on a second test at the daily-chart level would make sense. Also, the first three days of this week have just seen a rebound, and a direct drop afterward would form an engulfing pattern. We can patiently wait a bit—there might even be the pleasant surprise of a new low. So we can look forward to Bitcoin breaking below 81000 and testing 80000. If it breaks down with a long wick, I’ll come back and load up aggressively!
$BTC $ETH $SOL