Gate Square “Creator Certification Incentive Program” — Recruiting Outstanding Creators!
Join now, share quality content, and compete for over $10,000 in monthly rewards.
How to Apply:
1️⃣ Open the App → Tap [Square] at the bottom → Click your [avatar] in the top right.
2️⃣ Tap [Get Certified], submit your application, and wait for approval.
Apply Now: https://www.gate.com/questionnaire/7159
Token rewards, exclusive Gate merch, and traffic exposure await you!
Details: https://www.gate.com/announcements/article/47889
From the weekly perspective, BTC and ETH have seen a brutal stretch of consecutive declines, but the closing positions basically align with previous expectations—Bitcoin at 84,000 and Ethereum at 2,800 are indeed serving as support levels. This week will likely continue as a consolidation phase; whether the trend continues downward or reverses will need to be evaluated step by step.
On the daily chart, BTC closed with a bullish candle around 86,800. Although the body did break through the 86,500 mark, the momentum isn't strong. The key now is whether the resistance at 87,500 can hold; support below is at 84,500. If it breaks upward, watch the 90,000-92,000 range; if it breaks downward, keep an eye on 82,000-80,000. ETH closed near 2,800 and is still consolidating. Resistance above is at 2,820-2,850; a breakout targets 2,950. Support below is at 2,760; if that breaks, look to 2,660.
On the 4-hour timeframe, BTC is currently climbing steadily. Watch 87,500 above; if that breaks, look for 89,000-92,500. Support below is at 85,000-84,000. ETH is following the trend but is slower to react. Resistance above is at 2,850-2,880; if that breaks, target 2,980-3,030. Support is in the 2,760-2,680 range.
Yesterday's analysis mentioned that the bearish trend should be temporarily over, with a suggestion to build long positions at lower levels. Unfortunately, BTC didn't provide the expected pullback opportunity, but ETH did offer some good space to work with, so this approach can be continued going forward.
As for trades: consider going long on BTC at 85,000-85,500, targeting 86,500-88,000, with a stop loss below 83,000. For ETH, go long at 2,760-2,790, targeting 2,850-2,950, with a stop loss below 2,700. These strategies are time-sensitive and for reference only.