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1:15 PM
The current market trend is quite similar to yesterday's outlook. Bitcoin is holding below the 90,600 resistance level without breaking through, Ethereum is stuck around 3,140, still oscillating, and the market is sluggish. The trend reversal might happen tonight.
The current market situation is shown in the chart below:
From the chart, it’s clear that we are at a critical juncture. After the trend reversal, profits could be significant. The trend line has been tested three times; the last test requires a break. Then, a weak rebound may occur. Whether this weak rebound will strengthen or reverse depends on whether 3,140 can be broken and stabilized. Bitcoin at 90,600, within the yellow zone, represents a strong support level. If it doesn’t break below, there’s no room downward. Similarly, after breaking 3,140, the next resistance is at 3,290-3,300, and surpassing that opens up more space. Additionally, Bitcoin’s above-market capital gap is quite large. Based on these points, I personally lean towards a subsequent upward rebound, but the probability is evenly split between a continued decline and a reversal, as there’s no strong rebound or breakthrough of the current first resistance from a technical perspective.
Overall, the view is that Ethereum holding above 3,070 and Bitcoin not breaking below 89,400 and 89,000 levels means that the upward movement is just a matter of time. Currently, the sideways, sluggish consolidation pattern has sapped confidence, but I personally favor an upward move, including SOL not breaking below 130, with subsequent targets around 140-147. Given the current pattern, trading is quite stressful.
My personal trading approach is to avoid breaking key levels downward and adopt a low-buy strategy, which offers a relatively high cost-performance ratio.
For reference only.