Take a look at today's market analysis. Bitcoin has been hovering around 80,000. The range we mentioned before, 83,000-86,000, continues to consolidate and fluctuate.
The longer it fluctuates in this area, the closer we are to the end of this consolidation. In fact, we can see from the past couple of days that there has been a slight breakthrough in the convergence of the small triangle on the daily chart.
After the breakthrough, we now need to see if it can hold and not create new lows. Additionally, from this perspective, the upward trend line should not be broken. If that happens, Bitcoin's price is expected to improve and rise.
At that time, this area may form a small triangular breakout pattern. This is what we need to focus on.
If it breaks upward, we should pay close attention to the range of 88,000-90,000 above.
If there is no upward breakthrough in the short term, for example, if the daily chart breaks below the upward trend line, it is best to stay out and observe first.
Alternatively, we could try to approach the bottom of 83,000 once more. If the bottom of 83,000 is broken, we can just wait and see for now.
In that case, there may be a situation where it retests the range of 84,000.
Whether this area can form a double bottom and move upward is a situation to watch for later.
After discussing Bitcoin, let's take a look at Ethereum. From an overall perspective on the daily chart, Ethereum is still in a downward trend line.
From a smaller cycle perspective, the daily level is still waiting to break through at 1,550.
After the breakthrough, it has been consolidating sideways in this area. Next, we need to focus on breaking upward, approaching the points of 1,950-2,000.
Only by completely standing above this point can the market potentially move higher.
If it does not stand above this point, it will still be in this larger downward channel. Ethereum's daily level is still consolidating and fluctuating within this range.
However, from a smaller level perspective, there has been a slight breakthrough.
After the breakthrough, it is still consolidating in this area. We need to pay close attention to this.
In the short term, we should focus on whether the point of 1,570 can be broken. On a larger scale, we can trade within the range of 1,632.
We can engage in high selling and low buying.
The market has been moving slowly and has been stuck for a while. We need to be patient and wait. The more we are in this situation, the more we need to stay steady and wait for the market to break through.
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