#BTC #ETH

#$BTC$: Last week, a Bearish line was formed, and from the perspective of the overall market data, it entered a correction phase starting from mid-December. The pullback after the high point in the Candlestick chart was quite evident. Such high-level volatility is not a good sign, indicating a clear dumping tendency. Although there is obvious support at the lower point, once the market returns to around 90,000, measures to control risks should be highly implemented. The difference between this pullback and the previous dumping is that the market is experiencing a wave-like downward oscillation, while the previous dumping was a direct completion of Whipsaw. On the daily candlestick chart, after a sharp decline last week, there was a slight Rebound over the weekend, but the overall trend on the daily candlestick chart still maintains a short positions trend. Looking at the 4-hour chart, there was a rapid and significant drop to 97,000 points last Tuesday, followed by a slow downward oscillation. Based on the recent Rebound, the high point is around 96,000 points. For intraday operations, the key resistance to follow is the 96,000-97,000 range, and the key support to follow is the 94,000-93,000 range!
$ETH$: Last week, the weekly chart closed with a large Bearish line, engulfing the gains of the previous two weeks, and closed above the 14-day moving average, showing some support. From the weekly chart perspective, the Candlestick arrangement presents a whipsaw trend of short positions. Looking at the daily candlestick level, last week's decline halted near the 90-day moving average, and there was a slight Rebound over the weekend, but the morning market retraced after touching the 7-day moving average of the daily candlestick. Judging from the recent four days' Candlestick Rebound rhythm, it seems to be forming a bottoming behavior around the 3200-3250 position. However, it is more inclined to continue to decline after a slight Rebound to repair the technical gap. If the market can hold above 3400 points in the next two days, it will warm up, with a key support at 3250 below. If this level is breached again, the key follow support below in the short term will be at 3000 points. For intraday operations, the key resistance above is at 3320-3360, and the key support below is at 3240-3200.
Shanzhai: While Bitcoin and Ethereum are repairing technical weaknesses through a small Rebound, Shanzhai is waiting for the upper moving average to continue to decline after the weekend's sideways movement, thus repairing the technical weaknesses. This trend is quite weak. Don't always worry about missing out on the market and blindly bottom fishing. Currently, most altcoins are near their lows in December. Once Bitcoin and Ethereum start the second wave of decline, the next target for Shanzhai will be the end of October, which is also the low point of the year. It will also be a significant opportunity. At that time, the competition will be based on the quantity of bullets in hand, determining the size of the final victory fruit! The current market still remains in a wait-and-see state.So Stay wise, trade cautiously.
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