During the live broadcast of Three Kingdoms College, a short-term bottom has appeared. Can ETH break through 5000?

Click on the link to join the meeting directly: https://meeting.tencent.com/p/7890471408 1. Current market situation Bitcoin is currently in a volatile downward trend. After obtaining initial support around 107250, the price attempted a technical rebound, but fell back again after encountering strong resistance at the 109800 level. The range of 108000-107500 is currently the support area of concern. If it is effectively breached, it may open up greater downward space in the future. Ethereum is also facing downward pressure and has fallen to around $4299.81 at one point. Its daily chart is still within the upward channel since July, but recent fluctuations indicate a weakening of momentum. The mid line of the channel (around $4380) is a key support in the near future, with deeper demand around the 50 day moving average (around $4004). 2. Analysis of influencing factors Technical dominance: Due to the evening US stock market shutdown, it is expected that there will be no significant external emotional catalyst, and the suppression effect of technical aspects will be more significant. Financial Trends: Ethereum has recently experienced a significant outflow of spot funds, indicating a weakened confidence among major holders, which may increase short-term selling pressure. Market sentiment: Although Ethereum's overall upward structure has not been disrupted, it has repeatedly failed to break through in the $4600-4700 range, which has turned market sentiment towards caution. 3. Trading strategy reference Bitcoin: Short selling strategy: If the price rebounds to near the resistance zone of 109000-109500 and there is a stagflation signal (such as the long upper shadow of the K-line on the hourly chart), it is possible to consider a light short position and target around 107200. Long position strategy: If the price retraces to the support area of 107500-108000 and can effectively stabilize, consider taking a light position to gain a rebound, with a short-term target above 109000. However, it should be noted that the current main tone is a volatile downward trend, and going long against the trend carries greater risks. Ethereum: Key competition: Focus primarily on the gains and losses of the $4380 channel median. Breaking down: If the price effectively falls below the support of $4380, it may further explore the $4200-4000 range (100 day moving average and psychological level). Stabilizing and rebounding: If the price gains support in the $4380 or $4200-4000 range and shows signs of stabilization, it is possible to consider placing light positions and placing multiple orders, with a target of looking back at $4500 or even $4700. 4. Key highlights of the day 1. Bitcoin: Pay close attention to the testing situation of the 108000-107500 support zone. Meanwhile, observe whether the price can once again challenge the resistance level of 109800. 2. Ethereum: Focus on the defense of the $4380 support level. Whether it can quickly recover from the $4500 mark is also crucial to market sentiment. 3. Linkage: Continue to monitor the trend linkage between Bitcoin and Ethereum. 5. Briefly summarize Overall, the short-term trend of Da Bing and Yi Tai is bearish and they are at an important point of testing key support. In terms of operation, For aggressive traders, it is advisable to take a light short position when rebounding near resistance levels. For stable traders, it is recommended to patiently wait for clear stabilization signals near key support levels before considering placing long orders, or to wait for the price to effectively break through resistance levels before taking advantage of the situation. In this rebound led by Bitcoin, we have witnessed the power of technical analysis and the infinite possibilities of the market. Let's remain calm and continue to follow, because the story of Bitcoin continues. Welcome to the live broadcast room for communication, and at the same time, share practical knowledge and secret tactics! What will the market do next? Professor Pang Tong, who has ten years of theoretical and practical trading experience in the cryptocurrency industry, will provide a detailed breakdown for everyone. Welcome to the live broadcast room to check in! Join the Three Kingdoms College Exchange Group to receive more services: 1. Real time troubleshooting (online one-on-one question answering and sorting) 2. Professional technical analysis and theoretical learning 3. Construction and improvement of trading system 4. Live streaming courses every day, contract termination, real-time order making, to help you successfully land! Official QQ group: 579358784 Tencent Meeting ID: 789-047-1408 Disclaimer: The above content only represents the author's personal opinion and is for communication and sharing purposes only. It does not represent the position or viewpoint of AiCoin and does not constitute any investment advice. Based on this investment, there may be external contacts, which have nothing to do with AiCoin, and the consequences shall be borne by oneself.