Recently, the crypto assets market has shown a complex trend. Bitcoin (BTC) experienced a rebound on the daily chart, touching $115,713 before retreating to around $114,700. This rebound is relatively weak, failing to break through the two important support levels of the previous daily chart consolidation bottom. However, there are signs of convergence in the falling wedge pattern on the 4-hour chart, which suggests that if it can break through the current resistance level, it may welcome further pump.



Ethereum (ETH) faces resistance below $3,750, with the 4-hour chart showing it under pressure below the MA20 and MA60 moving averages. Notably, the short-term entry opportunity indicated earlier has brought nearly 10% profit, and the previously suggested incremental buying point around $3,350 was also quite accurate. However, from the daily chart perspective, the correction trend is not yet fully over.

Although the US stock market once fell below the previous highs, it subsequently showed a strong rebound, with major indices rising more than 1 percentage point. This makes tonight's trend particularly critical. As long as it does not fall back below the previous highs, the short to medium-term risks remain relatively manageable.

From a longer-term perspective, the monthly chart of Bitcoin shows that the key support level is in the range of $105,000 to $107,000, and only a drop below this range could result in a real trend reversal. The divergence in the weekly chart is similar to that during the 2020-2021 period, so it is crucial to avoid consecutive weekly declines. The upward trend on the daily chart has not yet been broken, currently presenting a falling wedge and flag channel. The MACD indicator shows that the bar length has shortened in the past two days, and the fast and slow lines have just crossed, which may indicate the arrival of the next wave of pump.

On the 4-hour chart, Bitcoin is still in a descending channel. If it continues to operate within the channel and breaks below $111,920, it may create a new low, at which point attention should be paid to the support range of $105,000 to $107,000. Another possibility is that the price remains strong above $113,500 and breaks through the upper edge of the channel, which would create opportunities for further pump.

Overall, the crypto market is currently at a critical moment, and investors should closely monitor technical indicators and key price levels across various timeframes to seize potential market opportunities.
BTC0.27%
ETH2.52%
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GateUser-5854de8bvip
· 6h ago
The analysis is spot on, brother.
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ServantOfSatoshivip
· 08-05 14:51
Hold Bitcoin firmly
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SnapshotStrikervip
· 08-05 14:51
Watch and earn money
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BoredApeResistancevip
· 08-05 14:51
Just do it, rush in first and talk later.
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PessimisticOraclevip
· 08-05 14:50
Market Tied Up Master
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BearMarketSagevip
· 08-05 14:49
Is a bull run coming?
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liquidation_surfervip
· 08-05 14:48
Be careful of significant fluctuations.
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ForkItAllDayvip
· 08-05 14:38
Waiting for the breakout range
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