1d ago
Market Viewpoint If it breaks above 107300, it may rebound to around 112000. I previously mentioned that if it breaks below 107, it could go as low as 102, but it ultimately did not reach 102, with the lowest spike hitting 1033. Subsequently, the market began to slowly recover, but BTC was stuck at the 107 level for quite a while. 107300 has formed a 1H level support-resistance switch, and after some grinding, it has managed to break above. In yesterday's viewpoint, I believed that if it breaks above 107300, it could rebound to around 112000, and I still hold that view. Currently, both the 1H and 4H levels are above 107300. I believe a significant rebound (around 5000 points) is on the way. The upper resistance is at 112000, with Ethereum around 4100. It can be seen that Ethereum remains the strongest asset (which has been emphasized throughout this phase). Ethereum's decline did not break below the previous low of around 4650. However, Bitcoin has already broken below the previous low of 109500, followed by a drop of 6000 points. It can be considered that the buying power from people like Tom Lee serves as support. Bitcoin's performance raises the question of whether some institutions that suffered huge losses from the drop on October 11 are selling Bitcoin to cover losses in altcoins. If the bullish trend continues, I believe Ethereum's performance will be the best. SOL and Ethereum are similar; during this decline, they also did not break below their previous lows, and the rebound was very quick. Both SOL and ETH are good assets, while Bitcoin is not. In terms of altcoins, pay attention to three coins: ENA, MNT, TAO. I have shared MNT's order in my tg channel, and since it hasn't broken the previous low, theoretically, it can still be held. This article is sponsored by #BCGAME | @bcgame @bcgamecoin
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