24/07/10BTC short-term false breakthrough, ETH box upper edge oscillation, does not recover the key position still not stop falling
At noon, Bitcoin broke through the upward triangle pressure of 58500 and rebounded to 59470, but it did not hold for half a day and fell back in the evening. Ethereum broke through the 4-hour shock box of 3080 and the price came to 3129 and also fell back. On the news front, the Australian Stock Exchange approved DigitalX's spot Bitcoin ETF BTXX to start trading on July 12.
Yesterday, the U.S. spot Bitcoin ETF had a net inflow of US$216.4 million and it has been inflowing for three consecutive days. The news and strength of DeG, Nifty G, and Mentougou selling coins are getting weaker and weaker. I don’t care much about these news. These purchases and sales will be shown on the K-line. Although the current oversold rebound has recovered the bottom of 56662, it is still a bottom support. The upper pressure is the bottom pressure of the 59600-60600 box. If it cannot completely stand firm and break through the daily downward trend line, it will continue to test the 53485 support or even break below it.
Flatbread
Bitcoin formed a false breakthrough of the triangle pattern in the 4-hour chart. After rebounding and touching 59470, it was directly smashed back. It is still dominated by bears. Although there is capital inflow at 53500-55000, the key position has not been broken and the downward trend has not changed.
In 1 hour, it formed an upward channel, and continued to fall back after breaking upward. 59600-60600 are all the bottom of the shock box. The first rebound was hit and it was beaten down. The short-selling force dominated. If the rebound did not recover above 60600 and the daily line broke through the downward trend line, the downward trend could not be changed.
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ether
After breaking through 3080 in 4 hours, the highest reached 3129, but it is still fluctuating near the upper edge of the box. For the time being, Ethereum has not followed the upper pressure of 3240 of Bitcoin, but it should also be noted that it will be dragged down by Bitcoin. The ETH/BTC exchange rate rebounded in 4 hours and also formed a W shape. It depends on how long it can make up for the rise. The cottage is also slightly stronger. Pay attention to the risk of falling back after the exchange rate has made up for the rise.
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