In the New Year, the long-awaited sound of firecrackers was heard, and it was rare to see the sincere smiles of those far from home. However, the market will not improve because of the Spring Festival. The support mentioned a few days ago has also broken below our expectations. The current rebound may be the beginning of the next round of decline.
The position of Bitcoin at 68000 has broken through as expected. Although it has lingered around 66000, the current trend indicates that the rebound is relatively weak. The peak of this rebound is expected to be around 68200, and if there is a spike, it may touch 69000, which will signal the beginning of another round of adjustment.
Ethereum's performance is slightly stronger than Bitcoin, with a V-shaped reversal on the 4-hour chart being quite strong. Resistance is around 2040, and further up is still the major level of 2150. This position has been broken through several times but has not effectively broken through, while the bottom continues to decline, which is a bad signal.
The good news is that ATM has brought us profits again. After gradually exiting above 1.5, it allowed everyone to buy some below 1.3, which is quite fortunate as the price has indeed come down to below 1.3, giving us an entry opportunity. Now, we have profits again, and this time I will hold until above 1.8.
#ETH trend analysis