🚀1.18 Afternoon Market View.🚀
$BTC Viewpoint:
The horizontal breakout of Bitcoin is not a true breakout and should be considered a bearish flag pattern. Pay attention to distinguishing this; such a breakout of the bullish flag occurs over time and has not seen significant volume, so it is ineffective.
Moreover, the resistance at 95755 has not been broken. If the U.S. stock market does not break the resistance of 95755 before opening tomorrow, it may not be able to hold the support of 94458 again on a pullback.
The pullback to 94458 is already the third time. The first pullback had the strongest rebound strength, and the second pullback's rebound did not even reach half of the first rebound's height. The third pullback rebound cannot break the second rebound's high point; the support at 94458 is bound to break. A rebound does not compare to a bullish trend, leading to exhaustion. If it breaks below 94458, it will pull back to 93076, continuing to oscillate between 95755 and 94458.
Bitcoin should chase long positions on the right side if it breaks 95755 with volume; if it breaks down 94458 with volume and fails to recover, short positions should be taken on the right side, with proper stop-loss measures.
If Bitcoin stabilizes above 95755 on an hourly level, look up to 96747-97156; if it can't get above 95755, it will be meaningless.
On a 4-hour level, breaking below 94500 looks down to 93161-92201.
Upper pressure: 95755-96747-97156
Lower support: 94508-93496-93026
$ETH Thought:
Altcoin should chase long positions on the right side if it breaks 3320 with volume, with stop-loss measures.
If it breaks down 3281 with volume, short positions should be taken on the right side, with proper stop-loss measures.
On a pullback to 3230, confirm the support is effective with an additional position;
Stop-loss if it breaks below 3188.
Altcoin stabilizing above 3320 on an hourly level looks up to 3362-3400.
Pay attention to 3382 for a short position on the upper side;
Stop-loss if it breaks 3417.
Left-side spike order: 3171 long, stop-loss if it breaks below 3146.
Upper pressure: 3320-3362-3400
Lower support: 3276-3228-3173
On a 4-hour level, breaking below 3283 looks down to 3227-3186; Altcoin shows a false breakout at 3320 with a higher high, which is a positive sign. As long as it does not drop below the low of 3268 on a pullback, there will be no lower lows, and it will trend upwards. Stabilizing above 3320 will lead to a breakout; Altcoin is very strong. Meeting adjourned.
