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Recently, the cryptocurrency market has once again experienced significant fluctuations, with Bitcoin and Ethereum both showing signs of rebound, triggering heated discussions among investors about the market direction.
Regarding Bitcoin, it began to rebound after touching the support level of 112 USD. The 4-hour candlestick chart shows a slight increase in trading volume, with significant liquidity in the range of 115-116 USD. The SKDJ technical indicator has shown signs of rising after a death cross, which may indicate a reversal in the short term. If it breaks through the upper liquidity, the Bitcoin price is expected to reach around 1159 USD as a pressure point. However, investors still need to remain cautious, as a pullback may occur again at this level. For traders with a higher risk appetite, it may be worth considering setting short positions near 1159 USD, but it is recommended to set stop-loss orders within 1%, while also paying attention to the support below around 111 USD.
The performance of Ethereum is equally noteworthy. Its price has broken through the support level of $3568, showing strong upward momentum, with a significant increase in trading volume. The SKDJ indicator is about to form a golden cross, which is usually seen as a bullish signal. However, there is significant pressure around $3692, where liquidity is concentrated, which may cause the price to pull back after breaking through. Cautious investors may consider placing short positions around $3692, setting a stop loss at about 1.5%, and closely monitoring the support level around $3470.
Despite the positive signals in the cryptocurrency market in the short term, investors should remain cautious about this rebound. The high volatility of the market means that risks coexist with opportunities. It is recommended that investors conduct a comprehensive analysis of market trends and consider various factors before making any trading decisions, while strictly controlling risks. Whether bullish or bearish, maintaining rationality and patience is key to success in this complex and ever-changing market.