The market is experiencing 'safe-haven sentiment' again. Pump in the Asian market recently, but investors are worried about potential selling pressure after the US stock market opens at night. As a result, some funds took profits in advance, leading to a drop in market data prices. BTC rebounded at 10W in the early session, then entered a sideways oscillation phase, followed by a one-way decline until it stopped at the 95157 low point. Meanwhile, Ethereum also faced pullback pressure from the 3513 high point of the rebound, all the way down to the 3345 low point.

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The current intraday trading volume is gradually shrinking, and the moving average is gradually flat during the Sideways period. The market momentum has weakened, and the development of the market lacks a clear directional driving force. In addition, the width of the Bollinger Bands is narrowing, and the price range is significantly compressed. All these signs indicate that the bulls and bears have reached a certain consensus to some extent, leading the market into a relatively stalemate situation. From the perspective of the 4-hour chart, the current resistance level for Bitcoin is at 96000, and the support level is at 95000. If the price declines, then the range-bound trading will continue until the bottom line at 92000. However, if the price rises, the bulls are expected to embark on the journey towards the 100,000 level once again.




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Today's GT in the market gave us a pleasant surprise as expected. Be patient and wait for opportunities. In this bull market, altcoins will show significant differentiation instead of a general uptrend. It's better to focus on narrative strong coins, because the strong will get stronger. Concentrate funds, energy, and time on these strong coins. The crypto market presents new hotspots every day, but preparing for the gains and losses of 2024 and gearing up for the big bull market in 2025 is the current priority. For more details, join the Yibo live broadcast room for a chat!