12.2
The main reason for yesterday's decline seems to be related to China's ongoing crackdown on cryptocurrencies and the rise in interest rates in Japan. The former is manageable; we can get used to it, but the latter is currently the biggest trouble, especially since Japan's actual interest rates have already risen. Today, Bank of Japan Governor Kazuo Ueda also hinted at weighing the pros and cons of raising interest rates and that he would appropriately raise the policy interest rate when conditions are ripe.
BTC
From an overall perspective, the bearish sentiment remains strong. The strength of the rebound indicates that liquidity has not yet caught up. However, after a long period of decline, there has not yet been a significant rebound at this position. It's important to pay attention to the weekly support range between 78500 and 84500. From a daily perspective, as long as this position does not break 84000, it will gradually move sideways and then undergo a small rebound, eventually aligning the indicators with the main chart. Therefore, in summary, the upward momentum at this position will not be large; there is a high probability it will consolidate or continue to test support downwards, with support at 84700-81400 and resistance at 87900-89200-90000.
ETH
Ethereum has once again reached the range we previously mentioned, between 2600 and 2800. The turning point for this wave of market activity will depend on whether this range can hold as support. Personally, I believe that as long as this position does not break, one can gradually accumulate some assets and wait for a right-side consolidation and rebound. Its current trend is similar to Bitcoin's. The daily level also needs to move sideways to the right, so in summary, attention should be paid to the phase bottom at this position, with support at 2766-2630 and resistance at 2880-2990.
