Bitcoin
The current Bitcoin price is around 63,384. It has maintained a steady increase over the past few days, with today's increase of 0.25%.
Support and resistance: BTC’s main support level is 60365. If this level cannot be maintained, it may lead to further correction. If it can break through the resistance level of 64000, it may go up to 67500 or even challenge 69000.
Technical analysis: BTC is currently trading above its 50-day and 200-day moving averages, which is usually a bullish signal. In addition, the 14-day RSI is at 61.27, indicating that BTC may rise to $65,000 before entering the overbought zone.
Market sentiment and on-chain data: Recent ETF inflows have provided strong support for BTC, especially the increasing participation of institutional investors, which has driven market optimism. At the same time, large players such as MicroStrategy have recently accumulated a large amount of BTC, which has also boosted market confidence.
Operation suggestion: If you hold BTC, you can consider continuing to hold it, especially if the price breaks through 64000, you can consider adding positions. If the price falls below 60365, it is recommended to consider reducing positions or wait and see to prevent the risk of callback.
The market is optimistic in the short term, but when investing, you still need to pay attention to potential market fluctuations and do a good job of risk management.
Ethereum
Currently, the price of Ethereum is fluctuating around 2610, with a slight increase in the past few days. In the short term, it may try to break through the resistance level of 2650. If successful, the target may be 2,700. If it falls below 2500, there may be a risk of further correction and fall to the support level of 2400.
From a technical perspective, ETH's momentum has increased, especially in recent days. However, market sentiment remains cautious and investors are still waiting and watching. ETH's trading volume is also relatively high during this period, indicating that market participation is not bad.
On-chain data shows that Ethereum’s activity remains stable, but it is worth noting that the number of open Ethereum futures contracts has reached a 20-month high, indicating that market volatility may increase.
In general, if ETH can hold steady at 2600 and break through 2650, there will be a greater chance of short-term bullishness; but if the price falls back below 2500, you may want to consider reducing your position.
