$BTC Yesterday’s most important structural change was the volume-backed breakout above the daily downward channel since the top. This means the intermediate bearish structure that had been continuously suppressing the market was broken for the first time, which is a fairly clear positive signal in BTC’s structure in the near term. The next focus is no longer to judge whether BTC is still within a down channel, but to observe whether the post-breakout retest can hold, and whether it can further break above the previous structure’s high around 67,200. Only if the higher highs and lower lows rise in sync can the intermediate-term long structure be considered further confirmed.
Compared with BTC, $ETH showed noticeably weaker performance yesterday. The highest it reached was only around 1918, where it was blocked in the 1915 resistance zone. It has since pulled back to around 1895. The 4-hour chart is still suppressed by the downtrend line since 1982, so ETH is currently only a short-term rebound and has not completed an intermediate-term structure reversal. The next key is 1915–1940: if it breaks out on increased volume and holds above, the downward structure will start to fail; if it remains under pressure and drops back below 1880–1870, you still need to be cautious about another test of 1840.
Erbing pressure: 1915–1926–1943–1963
Erbing support: 1890–1880–1870 (short-term core defense)–1850 (recent bottom)–1840 (daily body defense)
Summary:
If Erbing subsequently holds above 1880 and does not break, once the price breaks through 1900, the short-term bullish structure will be stronger, with targets at 1926–1943.
If 1870 on the short term fails, there is risk that the market will continue testing the daily bottom at 1840.
Compared with BTC, $ETH showed noticeably weaker performance yesterday. The highest it reached was only around 1918, where it was blocked in the 1915 resistance zone. It has since pulled back to around 1895. The 4-hour chart is still suppressed by the downtrend line since 1982, so ETH is currently only a short-term rebound and has not completed an intermediate-term structure reversal. The next key is 1915–1940: if it breaks out on increased volume and holds above, the downward structure will start to fail; if it remains under pressure and drops back below 1880–1870, you still need to be cautious about another test of 1840.
Erbing pressure: 1915–1926–1943–1963
Erbing support: 1890–1880–1870 (short-term core defense)–1850 (recent bottom)–1840 (daily body defense)
Summary:
If Erbing subsequently holds above 1880 and does not break, once the price breaks through 1900, the short-term bullish structure will be stronger, with targets at 1926–1943.
If 1870 on the short term fails, there is risk that the market will continue testing the daily bottom at 1840.