2024-07-16 18:04:42 Bitcoin hits 65k, and the daily closing price is above 62.8k, confirming a bullish reversal. It is safe to buy the world safe now. The bottom has been formed. In any case, this is a historic moment.
There was a short pullback today, which is a normal decline after a continuous rapid rise. There are two key prices to pay attention to: the June closing price of 62.7k is the target price for short-term testing, and the next one is the futures gap of 61.4-61.8k. Bitcoin will fill it in the short term. The script goes down first and then up, and the possibility of filling the gap is high.
Key resistance price: 65110 / 65423 / 66515 / 67470
Key support price: 62222 / 61750 / 60484 / 59436

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Bitcoin hit resistance at the weekly open (68524) for the second time.
This Friday (today) is the monthly close, a very important price level that will determine future price action.
On a weekly/monthly level, Bitcoin is still in a consolidation range in an uptrend.

Currently fluctuating above the daily 20-day moving average, but normally, prices rarely leave this moving average without volume.
Therefore, I think there is a high probability that Bitcoin will break below this moving average.

Keep this in mind, I could be wrong, but this scenario is very likely to happen.

If there is no heavy volume during a potential decline, we will see Bitcoin looking for liquidity around 64,000.
The pivot 20-day moving average is growing towards around 61,500, which is also another medium-term price attraction.

The invalidation of all bearish scenarios is a 4-hour close above 68.9k - this would lead to a quick retest of ~71,000 and a possible breakout to a new all-time high.

It is important to note that the main bullish side of recent price action is Ethereum. It has fallen below the middle of the range and may fall a little further to the bottom of the range (at least to 3650). This also supports the view that Bitcoin will pull back further.

Key support and resistance levels:
Above: 68530 / 69277 / 71300 / 71944
Below: 66810 / 65860 / 64262 / 63090#BTC走势分析 $BTC $ETH

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Bitcoin is preparing for the next rise. Of course, the most concerned thing in the market now is the ETF of Ethereum. The price of Bitcoin will be affected by the approval or rejection of Ethereum ETF and follow its price fluctuations. This situation is actually relatively rare.
The issue that the market is concerned about is whether Ethereum ETF will be approved. The probability of approval is 90%. For those of us who do transactions, approval is not necessarily a good trading opportunity, because there will be some fluctuations and dangers, especially when everyone thinks it is good and bullish. I feel that it is easy to go wrong, maybe it is a huge trap, but this is just my personal experience in the past, so let's wait and see the results. So far, the longs of Bitcoin and Ethereum have made good profits, and may take advantage of the news of ETF approval to stop profits. I tend to be bearish.
Key resistance price: 70760 / 71513 / 72046
Key support price: 69174 / 68490 / 65650#以太坊ETF批准预期 #BTC走势分析

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