2024.7.24 Market Analysis
Yesterday, Ethereum ETF was officially listed, and the trading volume on the first day exceeded 1 billion US dollars, which was 3.6 times less than the trading volume of 4.6 billion US dollars on the first day of Bitcoin ETF in January.
ETH's performance is relatively poor, not as good as SOL. Those who don't know it may think that it is SOL's ETF listing. Ethereum's upper pressure is 3600, and the lower support is 3368. The good news has become bad news.
Technical aspect: Bitcoin rebounded to a high of 68,474 US dollars the day before yesterday, and then a big negative line fell yesterday.
The 4-hour level support is around 65,000, and there will be a short-term rebound.
The daily level support is 63,800 US dollars, which cannot be broken, otherwise the ant channel will cross again, then it is likely to go to the 61,000-61,000 US dollars area. If it does not break, it will default to sideways, and the market has not come out.
The weekly level pressure level is around 7.05, and it will have to come down if it cannot break through with large volume.
The Bitcoin Conference will start tomorrow, July 25th, and end on the 27th. It seems that the curse of falling every time there is a conference has not been broken. Everyone should pay attention to risks these days, especially those with full positions. Feilong said before that it is time to reduce positions before the Ethereum ETF is listed.
Summary: Hold 50% of the position, you can attack or defend, and those with empty positions will build positions in batches when the bottom is reached again, starting from $61,000, and buying the bottom every time it drops by $3,000.
