After six consecutive days of rebound, the market for Bitcoin and Ethereum has seen a pullback as expected. Keep an eye on this Friday's market expectations regarding unemployment and non-farm employment data. A drop in the unemployment rate (positive) and a decrease in non-farm employment (negative) create mixed signals—often leading to sharp spikes up and down, followed by further declines to test lower support levels.
Bitcoin has broken below the 92,000 support level, returning to the 90,000 range for consolidation. This area has seen prolonged consolidation, making the support stronger. A test near 89,200 is expected. Those who entered around 92,000 can consider this a good opportunity to add to their positions.
Ethereum's upside potential is limited. Reaching 3,320, a key resistance level, was a tough climb, but Bitcoin failed to push Ethereum higher this time. Instead, both are pulling back in preparation for the next breakout. A key support level for Ethereum is around 3,120. If this level breaks, further support lies near 3,050.
During the recent altcoin rebound, an old acquaintance reappeared: $THE . The current trend looks strong. Consider taking an initial position when it dips to around 0.21. With the overall market stabilizing, altcoins may offer more opportunities in this cycle.
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