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The crypto assets market has been experiencing significant fluctuations recently, with investors closely following the trends of Bitcoin (BTC) and Ethereum (ETH). Let's delve into the key price levels and potential trends of these two major crypto assets.
For Bitcoin, $117,940 is the dividing line between bullish and bearish forces. If BTC can close above this level on two consecutive 4-hour candlesticks, with trading volume increasing by more than 20%, then a wave of upward movement may be on the way. Important resistance levels above include $119,500, $120,830, and $122,030. These price levels correspond to the technical neckline, Fibonacci retracement levels, and historical highs, and breaking through these barriers will trigger more buying.
On the other hand, the support levels for Bitcoin are mainly concentrated around $115,855, $114,730, and $113,578. These price levels are supported by the 200-day moving average, gaps in the futures market, and large on-chain buy orders.
The trend of Ethereum is also noteworthy. $3800 is a key price level where a large number of option contracts are concentrated. $3857 and $3900 are important resistance levels above, and breaking through these positions may trigger a strong market reaction. On the support side, $3693, $3631, and $3585 form a gradient defense line.
Market participants should closely follow the crossover of the MACD indicator near the zero line on the 4-hour chart, as this often provides clues about short-term trends. In addition, the accumulation of sell orders in the range of $117,900 to $118,000 in the order book is also worth attention, as it may become an important resistance in the short term.
Overall, the current Crypto Assets market is at a critical technical position. Investors need to stay vigilant, keeping an eye on market changes and managing risks appropriately. Whether bullish or bearish, strategies should be adjusted flexibly based on the actual market conditions, avoiding blind chasing of highs and selling on lows. In this market filled with opportunities and challenges, rationality and patience are often the keys to success.