1.5 Bitcoin/Ethereum Short-term Faces Pressure, Watch for Breakout Conditions



Bitcoin and Ethereum continue their recent upward trend, with a clear bullish momentum. However, as they approach previous resistance zones and overbought risks exist, caution is advised for potential pullbacks in the short term. Technical indicators on the daily chart show a small series of positive candles, with MA5 and MA10 moving averages forming a golden cross and diverging upward, indicating a short-term bullish trend. The MACD on the four-hour and hourly charts remains in a bullish expansion state, with good volume-price coordination. However, the RSI has entered the overbought zone, and prices are approaching previous resistance levels at 93,500-95,000 and 3,200-3,250, making short-term breakthroughs challenging.

In terms of candlestick patterns, recent prices show a oscillating upward trend, with lows gradually rising and highs continuously breaking through. The daily chart shows multiple bullish candles, indicating strong buying pressure, but the four-hour cycle shows signs of slight correction. On the daily chart, MACD remains above zero, strengthening bullish momentum; on the four-hour cycle, DIF and DEA are close to convergence, suggesting a possible short-term directional decision. Support levels are at 3,080 and 90,000; watch for a breakout below these levels.

Trading suggestions: Short Bitcoin near 92,800-93,300 with a target around 90,800; short Ethereum near 3,170-3,190 with a target around 3,090. For the 94500 and 3,250 levels, consider adding to positions if the rally is strong and conditions are appropriate; do not add if the position is not comfortable.
ETH-1,72%
BTC-0,06%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 3
  • Repost
  • Share
Comment
0/400
TheMotherTongueIsALanguagevip
· 01-05 23:35
The ether is too fierce, and the empty sacrifice is to the sky
View OriginalReply0
Ryakpandavip
· 01-05 08:50
Hop on board!🚗
View OriginalReply0
Ryakpandavip
· 01-05 08:50
Just go for it💪
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • بالعربية
  • Português (Brasil)
  • 简体中文
  • English
  • Español
  • Français (Afrique)
  • Bahasa Indonesia
  • 日本語
  • Português (Portugal)
  • Русский
  • 繁體中文
  • Українська
  • Tiếng Việt