Geopolitical issues ease, U.S. stocks surge 10%—does Bitcoin’s stalled, sideways consolidation after a volume surge indicate it’s building energy for a breakout?
Sorry for the break of a few days. On one hand, I had personal matters I couldn’t get away from. On the other hand, as for the market, these past few days have all been range-bound, and repeating the same talking points every day has no meaning. In terms of macro narrative, Trump has unilaterally announced a reconciliation, which in itself has little impact on crypto market sentiment. But oil prices have crashed, and an inevitable rebound in U.S. stocks should help repair risk appetite for Bitcoin to some extent. The biggest related factor is the CLARITY Act this Friday. Based on market expectations, it will most likely not pass. A sizable number of institutions have already started reducing positions. With good and bad news offsetting each other, the market has stayed in a sideways range all along!
BTC
Right now, the K-line shows a shooting star pattern along with a price-volume divergence marked by shrinking volume during consolidation. In the short term, there is some need for a pullback. During the day, watch the 6450 resistance area, and then look to the support at 6350 below. Only if it breaks below this level can the “inverted” pattern be considered over. If the downward move continues, the next zone is 6220–6130. In the vicinity of 6350, keep a light position and stay alert. If 6450 fails to stabilize at the daily-chart level, temporarily give up the bullish view. A more cautious approach is to look toward 6700.
ETH
Ethereum is also range-bound. For the short term, watch 1855–1886 for high-sell/low-buy. If it strongly breaks above and holds at 1886 on the daily chart level, a rebound can begin; you may temporarily abandon the bullish/short-term view. For resistance, take note again around 1936–1980 for potential shorts. If you see a retest at 1855 and confirm weakness on the 4-hour chart, you can chase from the right side. Support lies below at 1832–1800.
$BTC #美军称霍尔木兹海峡开放 $ETH
Sorry for the break of a few days. On one hand, I had personal matters I couldn’t get away from. On the other hand, as for the market, these past few days have all been range-bound, and repeating the same talking points every day has no meaning. In terms of macro narrative, Trump has unilaterally announced a reconciliation, which in itself has little impact on crypto market sentiment. But oil prices have crashed, and an inevitable rebound in U.S. stocks should help repair risk appetite for Bitcoin to some extent. The biggest related factor is the CLARITY Act this Friday. Based on market expectations, it will most likely not pass. A sizable number of institutions have already started reducing positions. With good and bad news offsetting each other, the market has stayed in a sideways range all along!
BTC
Right now, the K-line shows a shooting star pattern along with a price-volume divergence marked by shrinking volume during consolidation. In the short term, there is some need for a pullback. During the day, watch the 6450 resistance area, and then look to the support at 6350 below. Only if it breaks below this level can the “inverted” pattern be considered over. If the downward move continues, the next zone is 6220–6130. In the vicinity of 6350, keep a light position and stay alert. If 6450 fails to stabilize at the daily-chart level, temporarily give up the bullish view. A more cautious approach is to look toward 6700.
ETH
Ethereum is also range-bound. For the short term, watch 1855–1886 for high-sell/low-buy. If it strongly breaks above and holds at 1886 on the daily chart level, a rebound can begin; you may temporarily abandon the bullish/short-term view. For resistance, take note again around 1936–1980 for potential shorts. If you see a retest at 1855 and confirm weakness on the 4-hour chart, you can chase from the right side. Support lies below at 1832–1800.
$BTC #美军称霍尔木兹海峡开放 $ETH