BTC short-term trend falls below 11450 or is a sign of weakness, and the support of 11100 will continue to be watched in the short term

According to OKEx spot, BTC is currently trading at $11,422.4 (0.36%), while OKB is currently trading at $6.07 (-0.49%).

Yesterday, BTC failed to stabilize at 11450. After a short-term break, the bulls failed to regain the lost ground again and are now temporarily under pressure at this point. OKEx analyst Neo believes that with yesterday's high retreat and breaking through the upper edge of the previous consolidation zone, it means that the recent upward pattern has been destroyed, and the bullish trading volume also shrank to a low level after the last wave of amplification at 8 pm on the 12th. The real signal of the reversal of the upward trend is that the price of the currency falls below 11450, and the signal to confirm the bearish view is that the intraday rebound cannot stand back to 11450 again. This round of rise ended near 11750, which means that the effectiveness of the upper resistance of the upward channel has been fully verified. For investors, the trend may start a correction in the next few days. The focus should be on the 11100 first-line support. The price is likely to consolidate above this support in the short term. Even if it falls below 11100, it can be regarded as a process of long-term accumulation. After all, the trend of the big cycle is in a fluctuating upward pattern. If the callback starts to rebound again in the 10800~10850 range, it means that the support of the lower edge of the upward channel continues to be effective, and the subsequent rebound may continue to test 12000. In addition to the strong and weak dividing point 11100, the upper and lower edges of the channel will become the key entry and exit points for reference for swing trading strategies.

For ETH, the logic is simpler. If it cannot break through 395, it cannot be said to be strong. Continuously being blocked by the upper edge of the resistance may cause the trend to continue to test the 360 ​​mark, so the short-term trading range should still be mainly 360~385. In the DEFI project, YFI continued to weaken after failing to break through the 17700 resistance. It is now continuously testing the effectiveness of the 15000 support. If it falls below, it may test the recent low of 12300. In contrast, the support area below YFII is slightly stronger than YFI. There is a certain support in the 1870~1900 range. There is still a certain probability of testing the 2580 resistance upward before breaking. LINK is temporarily supported by the 10.5~10.8 area, and the strong resistance above the 11.8~13.2 range may become a roadblock for bulls. UNI price fluctuations continue to narrow, and the current oscillation range is only maintained at 3.20~3.66, with an amplitude of 0.4 US dollars. It is advisable to wait and see with empty positions before the trend breaks through the upper and lower edges of the range.