Bitcoin has fallen below the 90,000 mark, and Ethereum at 3,000 is also in jeopardy! How much can it rebound this time? Difficult! Difficult!
Bitcoin and Ethereum have been consolidating over the weekend, until last night when they began to decline slowly, and today in the morning the decline has intensified. Bitcoin is once again testing the 88,000 mark, while Ethereum also dipped to 3,020 before rebounding.
Macro-wise, several senior officials from the Federal Reserve reiterated their opposition to interest rate cuts last Friday evening. Harker stated his changed position in the early hours that if interest rates are cut, he would consider Trump's opinion but would insist on the independence of the Federal Reserve's interest rate decision. Last week, the favorable impact of the Federal Reserve's interest rate cut has already taken effect, and this week the probability of a rate hike in Japan continues to rise, causing panic and cautious sentiment in the market to intensify, putting pressure on Bitcoin, Ethereum, and others. However, the non-farm CPI data will be released soon; if the data is favorable, it may strengthen the case for interest rate cuts and bring some relief to the market.
On the technical front, after Bitcoin fell below the 90,000 mark, the daily chart price is currently operating near the lower Bollinger band at 87,300, where there will be some support. Additionally, the hourly RSI is in the oversold zone and is turning upwards, indicating a potential rebound today. The short-term resistance above is focused on the 90,000 mark and the 91,500 level, while the short-term support below is at 87,500. If the downward momentum is strong, it may test the 86,000 level, which is also a critical support.
Ethereum is relatively resilient; the daily chart price is operating at the middle band, and the four-hour Bollinger band continues to open downwards, as does the hourly chart. However, the RSI is also in the oversold zone, indicating a need for a rebound repair as the price declines. The 3,000-2,950 area is a key support zone today; if it breaks again, it may test the 2,800 area like before. The short-term resistance above is at 3,150 and 3,250.
During the day, focus on the rebound repair and consolidation situation, with special attention to the speeches of several senior Federal Reserve officials in the evening.
BTC short-term
Support: 87,500, 86,000
Resistance: 90,000, 91,500
ETH short-term
Support: 3,000, 2,950
Resistance: 3,150, 3,250
⚠️ Friendly reminder: Focus on the rebound during the day, then watch for a pullback and consolidation.
