Bitcoin and Ethereum Still Face Short-Term Pullback Risks, Key Support Levels to WatchBitcoin touched the downtrend line yesterday with increased supply, indicating a risk of pulling back to the bottom support of the consolidation zone. Bitcoin tested the bottom of the range last night as expected and bounced back, pulling back nearly 2%
Bitcoin and Ethereum Still Face Short-Term Pullback Risks, Key Support Levels to Watch
Bitcoin touched the downtrend line yesterday with increased supply, indicating a risk of pulling back to the bottom support of the consolidation zone. Bitcoin tested the bottom of the range last night as expected and bounced back, pulling back nearly 2%. It remains to be seen whether the pullback has ended based on the current trend.
While yesterday's pullback to today's rebound shows that supply still exists and there is still a risk of further pullbacks, it's important to note that the overall trend remains bullish. Short-term adjustments are inevitable. Investors should pay attention to the important support levels below and exercise caution.
Ethereum similarly faced resistance at the resistance level, with increased supply indicating a potential pullback risk. Ethereum also pulled back as expected yesterday. Currently, Ethereum is retesting the resistance level, with still a significant amount of resistance supply. It is not advisable to chase gains in the short term, and waiting for the adjustment to end is recommended. Similar to Bitcoin, Ethereum remains bullish in the long term, but requires short-term adjustments.
Bitcoin 4H Chart:
[Insert Bitcoin 4H Chart Here]
Ethereum 4H Chart:
[Insert Ethereum 4H Chart Here]
In conclusion, while both Bitcoin and Ethereum are in an upward trend, the risk of short-term pullbacks still exists. Investors should closely monitor market movements, exercise caution, and pay attention to key support levels below.
Disclaimer: The content of this article is sourced from the internet. The copyright of the text, images, and other materials belongs to the original author. The platform reprints the materials for the purpose of conveying more information. The content of the article is for reference and learning only, and should not be used for commercial purposes. If it infringes on your legitimate rights and interests, please contact us promptly and we will handle it as soon as possible! We respect copyright and are committed to protecting it. Thank you for sharing.(Email:[email protected])
