[2024.7.16 Bitcoin and Ethereum Market Analysis]

Yesterday Bitcoin and Ethereum surged, and those who dared to buy spot last week have made a profit. When the German Bitcoin sold out, I knew that the decline was over and the market was about to reverse, but I didn't know that it was a bit too strong yesterday.

Bitcoin and Ethereum pulled up six or seven points yesterday. It has been fluctuating downward for the past two months. The last time it rose by six or seven points was on May 20. This wave of Bitcoin's weekly level will only be considered to have completed the correction if it stands above 6.4w, otherwise this wave is just a daily level rebound.

Don't get excited as soon as it rises. Before the interest rate cut is confirmed, the weekly level is a wide range of fluctuations. Pay attention to the risk of correction when it pulled so much yesterday. Remember to move the stop loss when you make a profit!

Intraday market analysis:

$BTC stepped on the first support level I gave yesterday, 62400, and then went all the way, directly rising to the first weekly pressure level of 6.5w.

At present, 1 small level has started to pull back. If there is a small level pullback today, pay attention to the positions below 63550-62500-60655. If it falls below 62500, the 4-hour level rise will end and start to pull back!

As long as the closing line of the 4 small levels does not break 62500 today, the market will still go up. Pay attention to the upper target/pressure level near 65150-66320-67600! #BTC走势分析

$ETH After stepping on the first support level I gave yesterday, 3328, it has been advancing all the way and directly rose to around 3500.

At present, 1 small level has started to pull back. If there is a small level pullback today, pay attention to the positions below 3405-3345--3285. If it falls below 3345, the 4-hour level rise will end and start to pull back!

As long as the closing line of the 4th level does not break 3345, the market will still go up. The upper target/pressure level should be around 3480-3523-3600! #ETH走势分析

(Want to know the daily trend analysis of Ethereum, please pay attention to it. We will bring you the latest market analysis and accurate pin points every day)