BTC really suppresses Ethereum by a significant margin. These past two days, looking at the K-line, although both are stuck near the daily 60 moving average, their trends are completely on different levels.

Last night, BTC bounced back immediately after retracing to 0.682, and basically touched the top area in recent days. What about Ethereum? It only started to rebound after retracing to 0.782, and even after the rebound, it still needs another 100 dollars to reach the previous high. The gap is obvious.

From the perspective of Chan Theory, BTC has already formed a bottom divergence on the 1-hour chart, and the rebound strength is also quite good. My judgment is that there is a high probability of a rebound trend on the 4-hour level. As for during the day, it should still oscillate within the 1-hour central zone, and there's no need to rush into the market. Wait for this round of 1-hour retracement to complete, then observe the subsequent direction.

Market analysis still requires patience, don’t rush.

Update on the 23rd.