As the market reaches this point, many people begin to struggle with the question: is this wave the end of a bull run, the prelude to a Bear Market, or just a breather after a deep pullback?

To be honest, no one can give a definite answer. However, the technical analysis does provide some clues - from the daily chart, the Bollinger Bands are moving towards the upper-middle band, the MACD has just formed a golden cross below the zero line, and the yellow EMA line is about to cross above the purple line. The previous downtrend line has already been broken.

Looking at these signals together, there is a pretty good chance of continuing the rebound in the short term. If it really wants to go up, the first resistance level to pay attention to is around 94000, and whether it can hold this position is very critical.

BTC and ETH, these mainstream cryptocurrencies, are currently in this sensitive position. Whether going long or short, one must strictly control the position and not let impulsiveness lead to losing the principal.