Yesterday we mentioned the resistance level of 67000 for Bitcoin, and also mentioned that the 12-hour level is going bad. If the daily line cannot effectively break through 6W7, it will also face the problem of going bad next week. Yesterday, affected by the ETF of BTC/ETH passed by Hong Kong, Bitcoin rebounded and was beaten down near 67000. After the first attack failed, it began to weaken. It is currently fluctuating around 6w3, which is basically in line with our expectations. It is expected to remain volatile (weak) in the short term. Let's see if there will be a second attack later, and whether it will break through and stand firm at the 6W7 position~
Everyone is still more concerned about where this round of downward trend can go below. Yesterday we also mentioned that if there is an acceleration in the short term, the needle position may go to around 55600. At present, it can be more specific. If there is subsequent acceleration, it can be judged that the first support level is around 56000, and the next larger support level is 50000-52000 range, this is the position of the larger level of support that can be seen at present~
Regarding the approval of ETF in Hong Kong, I personally think that it will not bring much change to the market. After all, the current financial environment of HK is not good, and it can even be said that it has deviated from the scope of the previous world financial center. Although the first approval of ETH ETF is a positive performance, the capital flow introduced into the market is limited, so it cannot bring much change to the market. It mainly depends on when the US will cut interest rates and when ETH will pass~
In the short term, Bitcoin will focus on the support near 61500 below. Ethereum is currently performing better than Bitcoin, also because it fell hard in the early stage. Yesterday we also said that the short-term release is relatively in place, with support below 3000 and resistance above 3220~
