1. Review of Previous Market Analysis and Summary
A few days ago, we discussed that Bitcoin's key resistance level is at $69,000 and the support level is at $66,500. The price has stabilized above $66,500 multiple times, confirming that this support level is relatively strong. Although the price broke through $68,000, it has retraced recently, reflecting short-term market uncertainty.
ETH's performance is consistent with previous predictions, successfully breaking through $2,600 and hovering around $2,650 above. We also mentioned that if it breaks $2,650, it may continue to push towards $2,700.
2. Today's Highlights
BTC resistance level: $69,000. If the price can break through this resistance, it may continue to rise to the $70,000-$72,000 range.
Support level: $66,500. If it falls below this level, a short-term retracement to around $65,000 may occur.
Market sentiment: The KDJ indicator shows overbought signals, and there may be retracement pressure in the short term.
Current price of ETH: $2,621.89
Resistance level: $2,700. If broken, it is expected to further attack $2,800.
Support level: $2,600. If the price retraces to this level, it may test this key support level again.
3. 4-Hour Market Analysis
From the 4-hour chart, the MACD shows that market momentum is weakening, and the KDJ indicator is in the overbought zone, which may lead to a retracement. The current key support level is at $66,500, and its support strength needs to be closely monitored.
The 4-hour chart shows that ETH encountered upward resistance after breaking through $2,650, but the momentum remains strong in the short term. The MACD and KDJ indicators also show signs of retracement pressure.
4. Operation Suggestions
BTC short-term operation: If the price breaks through $69,000, you can enter with a small position, targeting $70,000-$72,000.
Retracement strategy: If the price falls below $66,500, it is recommended to temporarily observe and wait for more stable buying opportunities.
ETH short-term operation: If it breaks through $2,700, you can go long with a small position, targeting $2,800.
Retracement strategy: If the price retraces to around $2,600, wait for stabilization before entering; set a stop-loss at $2,580.
5. Summary and Verification
Previous analysis has been validated; the performance of BTC and ETH's key support and resistance levels is consistent with the actual market trends. Next, attention should be paid to whether Bitcoin can break through the $69,000 resistance level, and whether Ethereum can further attack $2,700. If it cannot break through, there may be a retracement in the short term, and it is recommended that everyone respond flexibly.
Please continue to stay calm, manage your positions well, and avoid chasing highs and selling lows.
