Bitcoin and Ethereum 4H Trend Analysis: Expected Pullback and Future OutlookBoth Bitcoin and Ethereum have shown strong upward momentum in recent trends, but they have now reached expected resistance levels, making a short-term pullback highly likely.Bitcoin 4H Analysis:Bitcoin has tested the resistance level around $69,600 today, and is currently in a state of pullback after encountering resistance
Bitcoin and Ethereum 4H Trend Analysis: Expected Pullback and Future Outlook
Both Bitcoin and Ethereum have shown strong upward momentum in recent trends, but they have now reached expected resistance levels, making a short-term pullback highly likely.
Bitcoin 4H Analysis:
Bitcoin has tested the resistance level around $69,600 today, and is currently in a state of pullback after encountering resistance. We have repeatedly emphasized that the supply within the adjustment range has not increased significantly, so the subsequent test of the upper resistance level is expected, followed by a pullback. This expectation has been confirmed today.
Bitcoin has now reached its expected target position, making a short-term pullback highly probable. Of course, we cannot rule out the possibility of a strong breakthrough of the current resistance level in the future, but for now, a pullback is more likely.
Ethereum 4H Analysis:
Ethereum has similarly broken through the downtrend line and tested the upper resistance level. However, the supply at the resistance level is still quite large, making a short-term pullback likely.
In the long term, Ethereum remains on an upward trend. However, we have completed one of our previous expectations, so we need to pay attention to the pullback in the short term, and focus on the support levels of the pullback.
Conclusion:
Although Bitcoin and Ethereum have performed strongly recently, they have now reached expected resistance levels, making a short-term pullback highly probable. Investors need to be cautious, avoid chasing the rally, and pay close attention to the support levels of the pullback.
Future Outlook:
We remain optimistic about the future trend of Bitcoin and Ethereum, and believe they still have upside potential in the long run. However, we need to pay close attention to the support levels of the pullback and adjust our strategies according to market changes.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice. The cryptocurrency market is highly volatile and carries extreme risks. Please invest cautiously.
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