What is the ultimate destination for the big pancake and the second pancake? Is the recent trend heading up or down? Let's take a look below.
$BTC In this round of market, the weekly chart shows that it has tested above 80,000 multiple times without dropping, indicating that there is capital supporting the bottom, but this is definitely not the bottom of a bear market. According to the structure of the trend, it is likely to break below 80,600 and go down to the 70,000 range to complete the full downward cycle. The bull market that rose from 15,000 to 126,000 has ended, and now it is just a technical rebound during the decline.
The daily chart is clearer: if it does not break below 84,400, the rebound can continue, but 94,000 is a key resistance level, whether it can break through depends on whether the capital continues to enter. The weekly pattern is very similar to early 2022, with continuous lower shadows indicating someone is buying in, but the MACD golden cross at a low level only indicates weakened selling pressure, not a trend reversal signal. Historical experience shows that such rebounds often stall at the 0.618 position before turning down. Following this rhythm, the oscillation may drag on until mid to late January next year, with the upper limit of the rebound likely around 98,000.
$ETH Short-term manipulation traces are heavy, and 3,000 is the critical line. If it stabilizes above 3,000, it can reach 3,160, but once it loses support, there is almost no backing below 2,940, and 2,775 has even less support. Even if December closes with a positive line, don't get excited; it looks more like paving the way for further declines in January. After four consecutive months of decline, there is room for a short-term rebound, but don't expect a reversal; after all, it is a rebound, not a bull return.
The market has experienced a sharp drop, and the blood is flowing in the market. I will prepare some strong coins suitable for bottom-fishing as a recovery plan shortly. Brothers and sisters who want to follow the strategy can join 币安聊天室.
