Sunday Market Analysis!

Bitcoin just broke through the flag pattern consolidation range, retested the upper boundary and stabilized, then started to rally. Market funds are low and volatility is high over the weekend, so both gains and losses are normal. The true direction will be determined when the US stock market opens on Monday.

Currently, Bitcoin is at the key resistance level of 68,214. It failed to break through twice before and pulled back. If it can't break through again this time, it will likely continue to retrace; as long as it doesn't fall below 66,747, it won't retest the upper boundary of the flag pattern. If it breaks below, the flag pattern is likely to be invalidated. Conversely, a volume breakout above 68,214 with a clear volume increase will easily surpass the resistance at 68,751, and the 70,000 level could be seen soon. The recent decline hasn't broken the previous low of 62,400, so the second retest is basically over, and the rebound is continuously breaking through minor resistance levels. It all depends on whether it can continue to push upward.

$BTC In terms of operation, on the hourly chart, Bitcoin has volume support at 68,007. Aggressive traders can chase longs targeting 69,232-70,137; if volume drops below 67,115 and cannot recover on a rebound, consider chasing shorts. On the 4-hour chart, a break below 66,507 suggests support at 65,300-64,094. Resistance levels: 68,007, 69,232, 70,137; support levels: 66,710, 65,670, 64,600.

Ethereum is also showing strength. After breaking out of the range, it is testing resistance at 2,055. Once broken, it will push toward 2,102. As long as it doesn't fall below 1,986 on a retest, it won't undergo a deep correction.

$ETH For operation, volume breakout above 2,058 can chase longs, while a drop below 1,997 can chase shorts; if it retests and stabilizes at 1,936, consider going long, with a stop loss below 1,904. On the hourly chart, if it stabilizes at 2,052, look for 2,086-2,132; touching 2,110 can be a light short position, with a stop loss above 2,152. Place a buy order at 1,869 on the left side, with a stop loss below 1,835. Resistance levels: 2,052, 2,086, 2,132; support levels: 2,002, 1,962, 1,922. On the 4-hour chart, a break below 1,995 suggests support at 1,944-1,888.

Overall, both major cryptocurrencies are at critical decision points. Keep a close eye on core support and resistance levels, strictly manage stop losses, and avoid being misled by short-term weekend volatility.