#Bitcoin Although there are short-term signs of a bottoming out on the 1-hour and 4-hour charts, the overall trend remains weak.
Currently, we can only look for a rebound, and we cannot confirm a bottoming signal on the daily chart. Pay attention to the resistance level at 114,700; it was previously support, and now that it has been effectively broken, it becomes a resistance level.
Additionally, the 4-hour MA7 has also reached this position. In the short term, until tomorrow morning, this is considered a short-term double resistance level, which will put significant pressure on the price rebound.
I believe that going long and bottom-fishing is not very suitable at this time. Personally, I would prefer to wait for a test of the key support before making any decisions. The next support is around 111,300.
Furthermore, on the macro front, I am also waiting for Mr. Powell to finish speaking before making any judgments.
#ETH The magical "gap filling" has begun, ETH is falling along with #Bitcoin into the "gap filling zone", and the price must drop to 4096 to completely fill the gap.
If we look at the drop percentage of ETH's gap filling, there is still 1.7% room left.
If it falls in sync with BTC, that means BTC would need to drop to the third support mentioned in today's report, which is around 111,300.
Of course, it's important to remind again that gap filling does not happen all at once. As mentioned frequently over the past few months, it often rebounds halfway through the filling, then oscillates for a few days before filling completely, so please be careful to distinguish.
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