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Gate Square New & Returning Creator Rewards are ongoing!
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Monday midday Bitcoin Ethereum market analysis
Why is Bitcoin so strong on Monday morning? It's simple, after a whole weekend of low volatility, a large amount of eager capital has been unable to hold back any longer. The reason for this, in my opinion, is a surge caused by institutional rebalancing or spot buying last night. During the subsequent pullback, short-term high-leverage shorts gradually entered the market, followed by short-term high-leverage longs... In the fierce battle between longs and shorts, we will see which side the spot leaders choose to support...
Currently, the support below can refer to the position near 103800. If the 4-hour closing entity does not fall below this position, the market will continue to rise. The target resistance above can refer to several positions near 105800-106500-107200. If the 4-hour closing entity breaks below the 103800 line, this wave of 4-hour upward movement will end, and the target support below can refer to several positions near 102500-101500-100700.
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