BTC/ETH market analysis: The breakthrough has not yet been successful, “comrades” still need to work hard!

After Bitcoin fell below 60,000 and hit 58,000 in the early morning, it successfully triggered a rebound in buying power. Today we will update a little bit.


BTC：
1. For a rebound breakthrough, we must first look at the breakthrough of 62,000. Only when the breakthrough stabilizes and returns to the price channel can we see higher room for growth.
2. After breaking through 62,000 and stabilizing, the upper short-term resistance is 63,400, and then the relatively strong weekly resistance point of 64,750. This position was previously the weekly support and played a supporting role many times, but now it has become a resistance, and the difficulty of rebounding will increase.
3. The test of the 60,000 round number level in the early morning was basically a failure, which shows that the buying orders at the round number level are relatively weak, and the range that will bring about a significant rebound is still the 58,000-57,000 range, which we mentioned yesterday.
4. If the 58,000-57,000 range is tested again within this week, it means that the buying orders in the upper buffer zone are weak. If the PCE data on Friday does not show good direction, 57,000 may be difficult to defend.
5. It should be noted that the daily level MA20 is about to cross below MA120, bringing about a technical "death cross". The key point is to pay attention to the trend.
6. The RSI index fell below 30 and then began to rebound. It currently remains at 29. Sentimentally, it is still an oversold rebound.


ETH：
1. The nearest resistance for the rebound is 34,000, which is the weekly resistance level. After breaking through, the next resistance level is 3430 120-day resistance level, so a short-term breakthrough and rebound is still difficult.
2. The falling support at 3270 is relatively weak after being tested. There is still a large space below the 200-day support at 3050. There is no obvious support in the short term.
3. Since there is not much technical support, the downward space depends on the narrative of the Ethereum ETF on July 2. From observations in recent days, the current decline of Ethereum is still relatively small, and there will be no major problems before the ETF is officially approved on July 2.
4. The RSI index is 39 and has never reached the oversold range of 30, which shows that Ethereum is still relatively stable in terms of sentiment and is also waiting for the ETF results.

The overall market situation shows that although there is a rebound, the resistance to the rebound is still greater than the support, and there are many difficulties. Combined with the rebound time of Bitcoin, it is basically after the US stock market closes. Yesterday, Nvidia fell more than 6% in a single day, and its market value evaporated by 400 billion. These funds brought new liquidity to the market, so a lot of funds came to buy cryptocurrencies after the US stock market closed. This also shows that the funds in the crypto market still depend on the face of the US stock market.

However, Nvidia also began to rebound today. Once Nvidia's stock price rebounds too well, the liquidity siphoning effect of the U.S. stock market may erupt again, and then it will be another day when the crypto market loses liquidity.

During a rebound, pay attention to support breakthroughs and don’t be too optimistic.

#BTC走勢分析 #ETH🔥🔥🔥🔥 $BTC