Although BTC broke through the previous high of 94,100 yesterday, the momentum to continue to rise was obviously insufficient, and it fell back about 2,600 points only by touching 94,500, which once again confirms that the current market is still dominated by a volatile pattern, just as yesterday's technical theory is the same, the overall trend is upward, but even if there is a breakthrough, it is difficult to stand firm. From the closing position, the price finally fell at 92,600, not only away from the previous high of 94,100, but even failed to stabilize at 93,000. Therefore, this breakout has not yet been confirmed, and we continue to maintain a neutral view and pay attention to the tentative actions in the current shock process. In the future, it is necessary to further observe whether the price can stabilize above the key level to judge whether the trend is really stronger or weaker!

At the daily level, this market broke the law of "turning to yin after the sun" in this wave of downward trend, forming a three-day yang pattern. However, this does not mean that the rebound has entered a very strong state! There are two reasons: first, the closing price failed to stand above the previous high of 94,100; Second, yesterday's lowest point once pierced the previous day's low, which does not conform to the characteristics of the gradual upward movement of the low point in the strong structure. On the whole, the current trend can only be defined as "strong", not "extremely strong". In Jiangyuan's technical system, "extremely strong" means that the price will continue to break through the high point and start a continuation of the big rebound; "Strong" can be regarded as a conventional shock upward. Next, focus on observing whether 94100 can be broken through again and stand firm, and then the strength can be further confirmed!
Since we are looking at the rebound as a whole, let's first locate the key support. The first position to watch is near 90800, the lowest point of the retracement after the previous first pullback of 94100. According to the logic of the retracement rebound, if the price steps back on this area again, it may form a double bottom support and start a rally. In addition, combined with the four-hour chart, the 90300-90800 range is also the support band of the recent low shock center, which has formed an effective undertaking many times. Therefore, if the price touches around 90800 for the first time, you can look at the upside. However, the position is deep, and it may be difficult to give it according to the current trend, and it may be necessary to wait for the fluctuations brought by US stocks in the evening. A more realistic intervention point can refer to the hourly line top-bottom conversion level near 92200, which is a little aggressive, but the signal of the rebound is relatively intuitive, and it is also more in line with the current market rhythm!
The upper pressure first focuses on the previous high of 94100 vicinity, many friends will think why it is not yesterday's high of 94500, in fact, the reason is very simple, 94100 belongs to the starting and falling point, and the high of 94500 belongs to the breakthrough continuation point, but the final price failed to stabilize the starting point of 94100, including the breaking of the continuation is not much, resulting in the pressure level is still 94100, and 94500 is just a price identifier, can not play a key pressure, I think, as long as it breaks through 94100 and stands firm in this position , the follow-up will definitely break through 94500 and achieve acceleration, so if you want to win the situation of 94500 not breaking, the follow-up arrival of the 94000-94500 area can see the downside, this is the first bearish point, if the breakthrough is firm, the follow-up will directly challenge the 96000-97000 area, if the moment directly starts to rebound all the way and break high, the follow-up can only focus on the 96500-97000 area to see the downside!
Ether is still a strong target in this round of market. In last night's rally, the highest price was close to 3400, which also made Ethereum the first currency to achieve the basic rebound target mentioned by Jiang Yuan before, of course, this is only a stage goal, not the final end, and this has been emphasized many times in the live broadcast! 3400 has become a key short-term pressure at present, and the next focus will be on whether the price can stabilize here. If it can effectively stand firm, the next resistance will move up to around 3550, giving a chance to see a downside, and for the medium-term cycle, as long as the price stabilizes, it will challenge the normal target point of 3800 in the future. Today, the overall rebound continues to be bullish. The lower support can focus on the top-bottom conversion area formed near the previous high of 3240, and if the price steps back on this position, it can be seen to the upside. Even if there is a subsequent pullback to break the position, the space below is relatively limited, and the backhand preparation is to reach around 3150, but it still depends on the upside. There is no need to be anxious, the market is in the correction stage after the pullback, the trend is often difficult to carry out a deep decline, even if there is a possibility of a sharp decline in the follow-up, it is also the trend of the follow-up stage, and the trading logic of continuing to see the rebound after today's correction does not conflict!
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