Analysis of today's Bitcoin and Ethereum market dynamics:
For $BTC (Bitcoin), the key mentioned last night is whether the support of 61645 can be maintained on the 4-hour chart. In fact, the price once hit a low of 61671 and then quickly rebounded to the 621 area.
Therefore, the focus today is still on monitoring the bottom support of the sideways range of 61645. As long as this position is not lost, the upper target can be seen at 62070. And only when the price can stand firmly above 62070 on the 1/2 hour chart, the rise can continue. The potential pressure levels above are around 62450, 63170 and 64080.
On the contrary, if the price falls below 61645 today and cannot be recovered, it means that the rebound at the 4-hour level may come to an end. At this time, attention should be paid to the support levels below, which are 61200, 60700 and 59900.#BTCmarket observation
For $ETH (Ethereum), the importance of the support of 2388 on the 4-hour chart was also emphasized last night. The price dropped to 2389 and then rebounded to 2421.
Today, we need to continue to pay attention to the bottom support of the sideways range of 2389. As long as the support is not broken, the upper target can be set at 2410. Only when the price can stand above 2410 on the 1/2 hour chart can the rise continue. The potential pressure levels above are near 2440, 2471 and 2498.
However, if the price falls below 2388 today and cannot be recovered, it means that the rebound at the 4-hour level may have ended. At this time, attention should be paid to the support levels below, which are 2357, 2331 and 2310.#ETHMarket Observation
