Analysis of Saturday ETH/BTC Silk Road

$BTC BTC has been consolidating in the 90500-91500 range throughout the day yesterday, and in the evening, it surged to near 93000 before facing resistance, then dipped to around 90100.

As of now, it is fluctuating around 90500, and the overall chart still shows a high-level consolidation trend. On the technical side, the moving average systems of all time frames are in a bullish arrangement. The Bollinger Bands on the hourly chart are narrowing, and the price is oscillating around the middle track, indicating a temporary stalemate between bulls and bears; currently, it is in a neutral to strong area.

The RSI has not yet reached the overbought threshold (70), leaving room for a technical rebound. The middle band of the Bollinger Bands has moved up to the golden ratio level of 0.618 (around 93500-94000), forming a strong resistance zone in the medium term. For short-term support, attention should be paid to the 90200 level, and the 90000 mark remains an important support level.

$ETH ETH reached 3100 after the US stock market opened yesterday, then retraced to around 3030, and has been fluctuating around 3020 since.

In terms of trends, it is expected to be weaker than BTC; however, from a technical perspective, the 4-hour bullish arrangement remains intact. The previous dense zone at 3100-3130 still serves as the main resistance, and the 4-hour MACD shows a top divergence indicating a need for a pullback. Support below is focused on the 2985 level, followed by the strong support at 2920.
Ice

Still emphasize that market conditions change rapidly. No matter how accurate your market judgment may be, you must always set your take profit and stop loss properly to secure your gains!
#比特币行情观察