The Nasdaq rebounds, BTC/ETH hold support! RSI oversold signals hidden secrets, is it time to bottom fish?

Brothers, the latest battle update is here! The Nasdaq's deep V reversal gave the market a strong confidence boost, but the crypto world is still "playing dead." Bitcoin hovers around 79,700, Ethereum swings near 2,265. The current market looks calm on the surface, but undercurrents are surging. A rebound signal on the 15-minute chart has already been issued, so let's break it down!

Nasdaq (NDX): Deep V successful, supporting tech stocks

Let the chart speak! The Nasdaq's sharp decline was indeed frightening, but the bulls responded extremely quickly, pulling it back from 25,990 to above 26,220.

Key level: Currently holding above 26,200, the short-term support is the moving average (yellow line) on the intraday chart.

Linked impact: If the Nasdaq stabilizes, it means risk assets are temporarily safe. This provides an external environment for BTC/ETH to rebound. If the Nasdaq can continue to surge higher, the crypto market is likely to follow and catch up.

BTC (Bitcoin): Holding at 79,700, bearish momentum wanes

Bitcoin's current movement is very interesting. On the 15-minute chart, a "double needle bottom" pattern has appeared.

Support test: The price dipped twice near 79,420 and was pulled back each time, indicating funds are supporting this level.

Indicator signals: Focus on the RSI indicators below!

RSI6 has already turned up to 31.62, RSI12 and RSI24 are also slightly rising after being in oversold territory.

What does this mean? The oversold condition on the 15-minute chart has been repaired, and a short-term rebound is imminent!

Moving average resistance: The current price is stuck around MA5 (79,700). As long as it stays above this line, the next targets are MA10 (79,898) and the middle band of Bollinger Bands (80,280).

ETH (Ethereum): Relatively weak but also oversold

Ethereum's movement is weaker than Bitcoin's, currently oscillating around 2,265.

Support defense: The low point at 2,248 is the last line of defense; as long as it holds, there is hope.

Rebound resistance: The MA10 (2,271) and MA20 (2,288) above form heavy resistance.

Indicator resonance: Ethereum's RSI6 is only 29.24, lower than Bitcoin's, indicating "extreme oversold." Once the market rebounds, Ethereum's elasticity could be greater, with stronger explosive power.

Trading strategy: Short-term trading, take profits when the time is right

The current market is no longer a one-sided decline but has entered a "oscillating correction" phase. Strategies should be flexible:

Option 1: Aggressive, rely on support to chase the rebound (preferred)

Since RSI has issued an oversold rebound signal, we can try a small long position.

Entry points: Bitcoin dips back to 79,500-79,600, Ethereum dips back to 2,250-2,260.

Stop-loss: Bitcoin at 79,300, Ethereum at 2,240 (must exit if support is broken).

Target: Bitcoin at 80,000-80,200, Ethereum at 2,290-2,300.

Note: This is a short-term trade. When the rebound hits resistance (long upper shadows on candles), take profits decisively. Don't hold on to the fight!

Option 2: Conservative, chase breakout after confirmation

If you're worried about bottom fishing halfway up the mountain, wait for the market to confirm the rebound trend.

Bitcoin: Break above and hold MA10 (79,900), then retrace without breaking support to enter long.

Ethereum: Break above 2,288 and follow the trend.

Summary:

The current market is a good opportunity for "left-side trading." The Nasdaq has given a confidence boost, and technical indicators in the crypto space also show rebound demand. Those holding short positions can consider taking profits, while aggressive longs can try entering, but be sure to set stop-losses and control your position size!