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 trends of the past few days have validated this, with the price stabilizing multiple times above $66,500, proving this support level is quite strong. Although the price broke $68,000, it has retraced at present, reflecting short-term market uncertainty.
ETH's performance is consistent with previous predictions, successfully breaking $2,600 and hovering around $2,650 above. We previously mentioned that if it breaks $2,650, it may continue to challenge $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, 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 rise to $2,800.
Support level: $2,600. If the price retraces to this point, 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 area, 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 $2,650, but 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 $69,000, a light position can be followed, targeting $70,000-$72,000.
Retracement strategy: If the price falls below $66,500, it is advised to temporarily observe and wait for a more stable buying opportunity.
ETH short-term operation: If it breaks $2,700, a light position can be taken long, targeting $2,800.
Retracement strategy: If the price retraces to around $2,600, wait for stabilization before entering, with a stop-loss set at $2,580.
5. Summary and Verification
Previous analysis has been verified, and the performance of BTC and ETH's key support and resistance levels aligns closely with the actual market trends. Next, we need to pay attention to whether Bitcoin can break the $69,000 resistance level and whether Ethereum can further attack $2,700. If it cannot break through, a retracement may occur in the short term, and it is advised to respond flexibly.
Please brothers, continue to stay calm, manage your positions well, and avoid chasing highs and selling lows.
