Today's Market Analysis Bitcoin (BTC)
Yesterday, Bitcoin rebounded all the way up, reaching a high of $67,433 before being blocked, and the trend was consistent with expectations. Currently, the price of Bitcoin is running around $66,860. The following is a detailed analysis:
Four-hour level:
Market analysis: Short-term rise is blocked, K-line falls back for three consecutive days, MACD bulls shrink, and the two lines converge and show signs of death cross. The current trend is bearish, but we need to pay attention to whether the MA7 support can be broken. If the retracement does not break, there is still a possibility of short-term upward attack.
Operation suggestion: Keep an eye on the MA7 support. If it falls back but does not break, consider a low-long layout.
Daily level:
Market analysis: The bulls are still strong, and there is little pressure around $67,000, which may break through at any time. Once it stabilizes, the next target position will be around $70,000.
Operation suggestion: Mainly buy on pullback, with upper pressure at 67,800-68,300 USD and lower support at 66,500-65,800 USD.
Specific strategies:
Long entry point: $66,500-65,800 range
Target: $67,800-68,300
Stop Loss: Less than $65,800
Ethereum (ETH)
Yesterday, after sideways adjustment, Ethereum made a strong rise at noon, reaching a high of around $3,120 before being blocked. Currently, the price of Ethereum is running around $3,110. The following is a detailed analysis:
Four-hour level:
Market analysis: Although the K-line fell back and closed negative, it did not continue. Supported by MA200, the market rebounded again, showing a strong bullish trend. MACD gradually increased in volume, and the double-line golden cross was upward. From the market point of view, there is a sign of breaking through the previous high at any time.
Operation suggestion: Maintain long positions and pay attention to the support of MA200.
Daily level:
Market analysis: The market stabilized, the bottom gradually rose, and yesterday's closing was a big positive line, showing that the bulls are still strong. There is still room for further upward movement, focusing on the vicinity of US$3,200.
Operation suggestion: Continue to hold long positions, with upper pressure at 3150-3200 US dollars and lower support at 3070-3050 US dollars.
Specific strategies:
Long entry point: $3070-3050 range
Target: $3150-3200
Stop Loss: Below $3,050
Summarize
Both Bitcoin and Ethereum are currently between key support and resistance levels. There may be a pullback in the short term, but the overall trend is still upward. Investors are advised to remain flexible, adjust strategies in a timely manner according to market changes, and seize the opportunity of a pullback to arrange long orders.
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