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 price has stabilized above £66,500 multiple times, proving that this support level is quite strong. Although the price broke £68,000, it has recently retraced, reflecting short-term market uncertainty.
ETH's performance aligns with previous predictions, successfully breaking £2,600 and hovering around £2,650. We also mentioned that if it breaks £2,650, it may continue to hit £2,700.
2. Today's Highlights
BTC resistance level: £69,000. If the price can break this resistance, it may continue to rise to the £70,000-£72,000 range.
Support level: £66,500. If broken, it may retrace to a lower level around £65,000 in the short term.
Market sentiment: The KDJ indicator shows overbought signals, and there may be retracement pressure in the short term.
ETH current price: £2,621.89
Resistance level: £2,700. If broken, further gains towards £2,800 are expected.
Support level: £2,600. If the price retraces to this level, it may test this key support again.
3. 4-Hour Market Analysis
From the 4-hour chart, the MACD shows weakening market momentum, and the KDJ indicator is in the overbought region, indicating a possible retracement. The current key support level is at £66,500, and its support strength needs close monitoring.
The 4-hour chart shows that ETH encountered upward resistance after breaking £2,650, but the momentum remains strong in the short term. The MACD and KDJ indicators also show signs of retracement pressure.
4. Operational Suggestions
BTC short-term operation: If the price breaks £69,000, a light position can be followed with a target set towards £70,000-£72,000.
Retracement strategy: If the price breaks £66,500, it is advisable to watch for a while and wait for more stable buying opportunities.
ETH short-term operation: If it breaks £2,700, a light position can be taken with a target of £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
The previous analysis has been validated; the performance of BTC and ETH's key support and resistance levels aligns with the actual market trends. Next, we should pay attention to whether Bitcoin can break the £69,000 resistance level and whether Ethereum can further attack £2,700. If it fails to break, a retracement may occur in the short term, and it's advisable to respond flexibly.
Brothers, please remain calm, manage your positions well, and avoid chasing highs and selling lows.
