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Welcome back to Mia Majera. I'm your host and today we have a lot to talk about, because the crypto market continues to give very interesting signals that we can't ignore. Bitcoin continues to move with difficulty right in that resistance zone that we have been watching for weeks. And although we are seeing a small short-term correction, exactly as we had anticipated, the most important thing is that in less than 24 hours, the US stock market will reopen.
And that, my friends, is a very powerful signal for the entire crypto ecosystem. So stick around until the end, because there are many crucial details to cover today. Starting with the Bitcoin weekly chart , the supertrend indicator is still in the red. Furthermore, we continue to observe a fairly pronounced bearish divergence in this timeframe.
However, in the short and medium term, the price continues to show a fairly marked oversold signal on the weekly chart, which is something we should consider carefully. In the three-day chart, the situation is quite clear. Bitcoin is still fighting against that resistance that we've been discussing for months.
A few days ago we attempted a breakout when the price momentarily rose above $76,000, but as I have been saying for some time, an attempted breakout is not the same as a confirmed breakout. To truly confirm that move, we need to see at least one three-day candle close above $76,000 and for the price to hold there afterward.
So far that hasn't happened. What we saw was simply a fuse raised, not a confirmed closure. So for the moment we continue to fight against that resistance and we have to expect more rejections from that area. Personally, I will only begin to view the overall trend with greater optimism when we see that real confirmation, that is, the closing of a three-day candle above 76,000 and the price holding in that area.
If that were to happen, it would be a pretty strong sign that we could be at the start of a longer upward trend that could last for several weeks or even months, but for now those confirmation signs are simply not present. Looking at the 4-hour chart, we can clearly see how that short-term correction that we anticipated two days ago is developing.
We said that over the weekend it was very likely to see some weakness in the price and that is exactly what is happening. This situation will most likely continue at least until the US stock market reopens, which will happen in about half a day from when I record this video. Once Wall Street opens, we'll see how it reacts, and that will give us a much clearer picture of what to expect in the coming days for Bitcoin and the crypto market in general.
In recent weeks we have seen considerable strength in the US stock market , even reaching new all-time highs recently. That strength has been an important driver for Bitcoin's short-term upward trend, but for that trend to continue, we also need Wall Street to continue showing that strength. As for the support and resistance levels to watch right now, we have important support around $73,700, especially in the $ 73,500 area.
If the price breaks below that level, the next relevant support would be between $71,000 and $72,000. On the resistance side, if we see any rebound, expect selling pressure around $75,300, close to $75,500. And, of course, the strongest resistance remains the $76,000 level. It should also be mentioned that there is accumulated liquidity above the current price, specifically around $78,500.
That's a very important level because historically the price of Bitcoin tends to move towards where there is a greater concentration of liquidity. That's not a guarantee, but it's a probability we can't ignore. Of course, other factors, such as the behavior of the stock market, also play a determining role.
If Wall Street panics and falls sharply, Bitcoin is unlikely to reach that level of liquidity, regardless of what the charts say. Now let's talk about Ethereum. The situation on the 3-day chart is very similar to that of Bitcoin. We have not yet confirmed the end of the major downtrend, because the price has not managed to close convincingly above the resistance located between $2200 and $2400.
We have tried to overcome that area, but without success so far . To confirm a real breakout, we would need to see a 3-day candle close above $2400 and for the price to hold there firmly. In the short term, Ethereum is pulling back towards a support area located between $2150 and $2250. If the price continues to fall a little more over the next few hours, the RSI indicator on the 4-hour chart may approach oversold levels, which would be a sign that the market has fallen too quickly and may need a breather.
If that happens, an interesting short-term rebound could appear, but between now and the opening of the stock market, expect the weakness to continue. Turning to XRP, the long-term trend remains bearish. However, in the short term, the price has managed to stay above the key support at $30, a level I have been pointing out for months since the price was close to $3.
The bearish divergence I warned about 2 days ago is still developing on the 4-hour chart, which is resulting in a correction over the weekend as expected. The support levels to watch are at $138 to $139, then at $135, and the major support at $130. If we see any rebound, expect resistance near the dollar.
As for Solana, the long-term trend remains technically bearish, but the price is holding within a defined range with support between $75 and $80 and resistance between $95 and $105. We recently saw a perfect rejection from $90.70 and now the price has fallen back below $85. The next major support level is near $ 81.50.
Finally, Chainlink shows a very similar dynamic. The major trend remains bearish, but the price continues to fluctuate within a wide range with support between $7, $98, and $50 and resistance between $9.50 and $10. We have seen perfect rejections from that resistance zone repeatedly and it is very likely that this behavior will continue in the coming weeks.
In summary, between now and the opening of the US stock market, we will most likely continue to see widespread weakness in the crypto market, not necessarily a sharp drop, but simply a lack of upward momentum with sideways movements or slight corrections. Once Wall Street opens and we see how it reacts, we'll have a much clearer signal about the next move for Bitcoin and the rest of the market.
That's all for today. I hope this information has been very useful, and I'll see you in the next video.
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