Sea of Coins Waves: 1.6 Cryptocurrency Market Bitcoin (BTC), Ethereum (ETH) Latest Market Analysis and Insights

Sea of Coins Waves: 1.6 Bitcoin (BTC) Market Analysis:

Bitcoin has recently shown a clear upward trend, with the price continuing to rise and briefly breaking through the 945,000 level in the early hours. From a daily chart perspective, Bitcoin's overall daily trend remains strong, with five consecutive bullish days. The BTC price has risen above the short-term EMA and broken through the upper Bollinger Band. The MACD histogram continues to expand, with the fast line crossing above zero, indicating a clear bullish trend. However, the KDJ and RSI indicators are in overbought territory, with J-value reaching 109.88 and RSI1 at 86.64, suggesting short-term pullback pressure. If the pullback stabilizes above the EMA7, the upward trend is likely to continue. On the 4-hour chart, after a sharp rise, the price slightly retraced but remains above the short-term EMA, with the upper Bollinger Band acting as resistance. KDJ and RSI are also in overbought zones. Although the MACD bullish momentum has not diminished, it has slowed down, indicating a high probability of a technical correction in the short term. Holding above the EMA20 suggests the possibility of testing previous highs.

On the 1-hour chart, a consolidation and retracement pattern is evident, with KDJ turning downward and the MACD histogram shrinking. The fast and slow lines are above the zero axis but showing signs of a death cross, further weakening bullish momentum. The middle line of the Bollinger Bands serves as a short-term key support; if broken, the price may test the lower band. However, this correction is only a short-term fluctuation and unlikely to reverse the medium-term upward trend. Overall, BTC's medium-term bullish trend remains intact. In the short term, overbought indicators suggest a technical correction. Traders may consider waiting for the correction to stabilize before entering long positions, paying attention to the support levels of various moving averages.

Sea of Coins Waves: 1.6 Bitcoin Short-term Reference:

Long positions: Buy in the 91,500-92,500 range, stop loss at 91,000, target 93,000-94,000.

Short positions: Short in the 94,500-95,500 range, stop loss at 96,000, target 93,500-92,500.

Sea of Coins Waves: 1.6 Ethereum Short-term Reference:

Long positions: Buy in the 3,145-3,185 range, defend at 3,100, target 3,200-3,265.

Short positions: Short in the 3,265-3,305 range, defend at 3,400, target 3,240-3,160.

Timeliness of article delivery may vary; these are personal opinions for reference only. Do not operate blindly! Hope everyone can adhere to their principles regardless of market fluctuations, stay rational and calm. Seize opportunities, make precise decisions, and ride the waves in the ocean of investment to harvest wealth and growth!!! ) #BTC