#BTC#ETHMarket Interpretation: BTC continues to play the key position, ETH rises steadily!
It's time for the daily market interpretation again. BTC's intraday trend continued to rise in the morning, and then fluctuated and fell. At present, it is still playing the key position of the weekly line. Ethereum is like an emotionally stable "adult" who is rising steadily. The overall market is good, let's take a look at the specific situation. Bold assumptions, cautious analysis, welcome to Uncle Cat's encryption "channel"
BTC:
65,500 is still the key game position near the weekly line and MA120. Among them, standing above 65,000 is already standing at the MA120 position, and the second is the key position of the weekly line. We talked about the situation after standing firm yesterday, so we won't mention it again.
Support: The short-term decline support can be seen near 64,300 at the 1-hour level and near 63,200 at the 4-hour level.
RSI: Index 68, soaring from 55 yesterday to 68, and the short-term price has not risen too much, the price increase is limited and the index grows rapidly, indicating that the current market bullish sentiment is consumed too quickly and lacks momentum. Once the index reaches around 70, pay attention to the short-term decline risk.
ETH:
Compared with BTC, ETH's trend is more stable. It has successfully stood on the upper track of the weekly line, and the bulls have been continued, but we still need to pay attention to the decline risk brought by the decline of BTC. There will be resistance near 3600 in the short term, so pay attention.
In terms of support, pay attention to the 1-hour level near 3430 in the short term, and then the support 3400 brought by the weekly breakthrough.
RSI: Index 58, compared with 3 points after yesterday's rise, in the stable rise of ETH, the RSI index has not increased excessively, indicating that the rise of ETH is relatively stable in sentiment. In the short term, according to the explosive power.
Summary:
The current rise of BTC cannot stabilize above the key position of the weekly line. In the short term, the sentiment is still more than enough to explode, but the stamina is insufficient. The market still needs a fire to ignite. At present, the broad expectation of a September rate cut has almost been realized, and there is no short-term hype value. The remaining ones are Ethereum's ETF and Trump's conference this month. ETH's current rise is stable and sentiment is stable, which is gradually fermenting the benefits of ETF. Let's see what kind of short-term fluctuations it will bring after it is passed next week.
