Analysis of BTC and ETH market on July 16:
Today’s highlights
BTC: 1-hour and 4-hour levels enter the overbought range, the daily level is higher than the healthy level, the 4-hour increase is high, and there is a possibility of a short-term correction. The macro environment has improved, and the expectation of interest rate cuts has increased again. The fundamentals are digesting the negatives and the positives are being supported. The subsequent general direction continues to be bullish. Pay attention to the intraday repair and renewal adjustments. The upper resistance of the day is 65200-66000, and the lower support is 62700-63200. Today’s increase is high, and the probability of correction is greater
ETH: 1-hour and 4-hour levels enter the overbought range, the daily level is higher than the healthy level, the 4-hour increase is high, there is a possibility of a short-term correction, the macro impact has improved, the chain continues to be sluggish, and the expectation of interest rate cuts has increased again. With the support of the positive factors, short-term accumulation of old irons can be reduced in batches. The upper resistance of the day is 3520-3600, and the lower support of the day is 3230-3280. Today's increase is high, and the probability of correction is greater.
