Hot news:
● The Fed's balance sheet has shrunk by about $46.2 billion
● Elliptic: Criminals laundered approximately $7 billion through decentralized exchanges, cross-chain bridges, and currency exchange services
● OpenAI CEO Sam Altman says Bitcoin is an important step in the technology tree
● Ripple (XRP) surpasses Shiba Inu (SHIB) in Google searches
● Bitmain pays part of the delayed September salary
BTC closed last week with a high cross star pattern. The market hit a high and then fell back to around 28610, which was exactly half of the long positive line. This has led to the market still being relatively bullish. Fortunately, the weekly 30-day moving average is still pressing the K-line to run, so this week we will focus on the upper 28610 pressure and the lower 27121 support. At the H4 level, the market currently has strong support from the 30-day moving average near 27750, and the direction of strong pressure near 28100 is not clear. However, combined with the CCI indicator, the market is more likely to fall, and the operation can be carried out at high altitude without breaking the previous high.
ETH's trend is relatively unclear. The market continues to fall, which makes technical analysis difficult. Of course, we still focus on the strong support near the daily 30-day moving average of 1625. If it is not broken, the market is still likely to fluctuate upward. On the contrary, once it is lost, 1600-1580 can basically be reached. At the H4 level, the market is also focusing on the 30-day moving average. The K line continues to run below the 30-day moving average. At the H1 level, it is currently out of the wedge shape. It is safer to trade on which side the market breaks. If it goes up, it is 1680. If it goes down, it is 1580.
