No one will always be in a low ebb, unless they willingly indulge in decadence. With effort and persistence, dreams will eventually come true!

Yesterday, Bitcoin fell, providing us with an opportunity to establish a mid-term position near the 60,000 mark. As of now, we have gained nearly 2,000 points. With the Bitcoin halving approaching, our strategy and viewpoint are clear. After the halving, we are bullish in the mid-term. The timing will depend on the market trend in the next few days. Currently, the coin price is in the testing phase near the 60,000 mark. The more it retraces, the stronger the rebound will be. In the short term, there may be a downward test, but it should not experience a major drop. A major drop would disrupt the daily chart structure, and protective measures must be taken for mid-term long positions.

So, where are we bullish for the mid-term position near the 60,000 mark? Based on recent trends, especially in the short term, multiple resistance levels have formed above. The daily chart's bullish and bearish watershed is at the 68,000 mark. However, before breaking through 68,000, attention needs to be paid to the resistance between 64,800 and 66,800. Therefore, in the first stage, we will focus on the range of 64,800 to 66,800. On the daily chart, if the 60,000 bottom is successfully established and stabilizes above 68,000, the overall upward trend structure will enter the second round of rebound. The second rebound will inevitably aim for new highs, otherwise it will revert to a range-bound state.

Short-term trends have uncertainties in the intraday movement and are not so clear. Firstly, if one went long at the 60,000 bottom yesterday, there is a possibility of a short-term rebound to test the resistance between 63,800 and 64,800. Secondly, the weak downward trend from earlier this week may continue to retest 60,000 to solidify the foundation. In recent days, the U.S. market usually sees a rebound after probing the bottom, but it is difficult to sustain during the day, so the short-term rebound should be seen as a retracement first. Depending on the decline, consider going long near 60,500 to 60,700.

Ethereum, after probing the 2,790 level last weekend, has been weakly oscillating this week without breaking the low. After multiple retracements to the 2,910 support level, it has maintained the oscillation. This position is almost equivalent to the bottoming position of Bitcoin at 60,000. Yesterday, we simultaneously notified to go long. The overall downtrend of Ethereum on the daily chart is evident. Since the plunge from 3,735 last week, it once broke through the support level of the previous low on the daily chart and went down. This week, it surged again and fell back, with the daily K-line high point moving down. Yesterday, it retested near 2,900, which is the support point for the second rebound after Ethereum's adjustment in February and the breakthrough of the year's high point of 4,100. Therefore, this position will play a crucial role in this retracement. Courage is needed for long positions, and the overall bullish view in the mid-term is also crucial for us to find turning points at low levels. I personally believe that there can be a stop-fall rebound on the daily chart today, and I recommend going long near 2,950.

For more analysis and recommendations, please follow the public account: Xiao Feng's Coin Analysis! This article is an original work by Xiao Feng. The above analysis is only a personal viewpoint, for reference only. Investment involves risks, so be cautious when entering the market. Please indicate the source when reposting!

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