【2024.6.25 BTC/ETH intraday market analysis】
Yesterday, the market was in a panic due to the Mentougou BTC repayment incident. At the same time, the German government sold 50,000 bitcoins, and the whale arbitrage of 1.2 billion US dollars in two weeks! The successive negative news and selling pressure caused Bitcoin to fall continuously, with a daily decline of more than 5%, and the overall market of the crypto market was sluggish.
Yesterday, it fell for a day. Mr. Zhang’s second-layer spot order of 5.7w has not been put on the bus. The spot bought on 611 yesterday is still there. It is still profitable. Even if the spot is bought, it will not panic. I firmly believe that the big cake will rise sooner or later. But it is miserable to open a contract. The big cake directly inserted to around 582 in the early morning and then began to rebound. The brothers with heavy positions may wake up without changing the price and the position is gone!
The big cake ether rebounded. If the cottage rises, remember to reduce the position. Don’t think that the rebound will bring back a little confidence. Today is a rebound after touching the bottom. The big cake daily line will only end this wave of decline when it stands above 64,000. Otherwise, don’t be happy too early!
Today's trend analysis:
If the 60500 that Bitcoin pushed in the early morning speech can't hold up, it will continue to fall. It broke through the second support I gave in the middle of the night and started to rebound. Pay attention to the 60300 position today. As long as it doesn't fall below this position, the small level will rebound. Pay attention to the upper pressure level/target near 61830-63300-64330.
If it falls below 60300 today, the small-level rebound fails and the market turns bearish. Pay attention to the lower support level near 59250-58200
If Ethereum can't hold up the 3260 that Ethereum pushed in the early morning speech, it will continue to fall. It almost broke through the first support in the middle of the night and started to rebound. Ethereum is relatively strong compared to Bitcoin, and it is currently rebounding at the 4-hour level.
Today, pay attention to the 3375 position. As long as it stands above this position, the 4-level rebound will start to rise at the 1/2 hour level. Pay attention to the upper pressure level/target near 3428-3458-3491.
If it fails to stand above 3375 today, the 4-level rebound will fail. If it falls back, please pay attention to the support level below 3338-3284-3212. $BTC $ETH