Bitcoin and Ethereum market analysis: rebound and stress test
Bitcoin (BTC) daily level analysis
From the daily level, Bitcoin (BTC) has stopped falling at the support level of $65,000-66,000. The naked candlestick chart shows that this support level has not been effectively broken. As the market rebounds further, Bitcoin is expected to test the upper pressure level of $67,500-68,500. If the test is successful, Bitcoin may face the risk of falling under pressure again.
Ethereum (ETH) daily level analysis
Ethereum (ETH) stopped falling at $3,460. The current market rebound is expected to test the important pressure level of $3,650. Similar to Bitcoin, if this pressure level is successfully tested, Ethereum may fall under pressure again, and the important support level below is at $3,350.
Bitcoin and Ethereum 4-hour analysis
Bitcoin (BTC) 4-hour level analysis
From the 4-hour level, Bitcoin (BTC) rebounded strongly after falling to the first-line support of $65,000. At present, the key pressure level above is in the range of $67,300-67,500. If the rebound can break through this pressure level, this round of correction will be declared over, and the market is expected to rise above $70,000 again. If Bitcoin falls under pressure at the pressure level, it is expected that the $60,000 mark may be tested again.
Ethereum (ETH) 4-hour level analysis
Ethereum (ETH) currently has an upper pressure level of $3,650 and a lower support level of $3,350. If the pressure level is successfully tested, Ethereum may retreat to $3,350 again. However, if the pressure level of $3,650 can be broken, the market is expected to rise again, with a target price between $3,900 and $4,000.
We have been laying out short-selling strategies near the pressure level. The target for Bitcoin is below 66,000, and the target for Ethereum is below 3,400. Short orders have been closed out for many times.
Operational ideas in the early morning: the rebound has not yet tested the important pressure level, so temporarily pull back and go long, and then arrange short orders after the pressure level is tested!
Bitcoin: long at 66000-66300, target at 67000-67500, stop loss below 65500; short at 67300-37700, target at 66000-65000;
For the second cake, go long at 3550-3570, target at 3630-3650, stop loss below 3520; go short at 3630-3660, target at 3550-3500;
#BTC☀ #ETH🔥🔥🔥🔥 #CVX #BURGER #UNFI. $BTC $ETH $BNB
