The horn of counterattack sounds! Bulls gather! It's time for the bears to take the night shift today! From the chart perspective, both Bitcoin and Ethereum have completed the bottom formation after a sharp decline, and the bulls are gradually regaining the initiative!
This wave of Bitcoin dropped from the high to around 68750, and although it briefly broke below the 69222 support, it was just a "false dip," with the closing price firmly standing above the support level, indicating very strong buying power at the bottom, with many funds buying at low prices. Now the price has returned to around 70400, which is the short-term dividing line between bulls and bears. As long as it can solidly hold 70406 on volume, it can open upward space, first watching the pressure around 71500, and if it breaks through, it is expected to challenge higher levels. If it cannot rush up for now, it is likely to oscillate and consolidate in the 70406-69222 range. As long as it does not effectively break below 69222, the bull trend has not been destroyed.
Ethereum also synchronized with its big brother to complete the bottom exploration, reaching a low near 2098, and quickly rebounded after touching the lower band of the box, currently returning to around 2150. Technically, the price has moved from the lower Bollinger Band toward the middle band, with moderate volume expansion, indicating gradual capital inflow. 2152 is the key resistance level; after breaking through on volume, it can look towards the 2189-2221 range. Pullback to the 2061-2094 range as long as it holds, would be a good low-long opportunity.
Although recent geopolitical conflicts have caused some disturbance, the market's expectations for Federal Reserve rate cuts remain, combined with stabilizing market regulation and continuous institutional capital deployment, the overall sentiment for risk assets is warming. The sharp declines of Bitcoin and Ethereum look more like washouts, releasing previous profit-taking pressure and clearing obstacles for subsequent rebounds. As long as key support does not break, continue looking bullish in the near term.
The horn of counterattack sounds! Bulls gather! It's time for the bears to take the night shift today! From the chart perspective, both Bitcoin and Ethereum have completed the bottom formation after a sharp decline, and the bulls are gradually regaining the initiative!
This wave of Bitcoin dropped from the high to around 68750, and although it briefly broke below the 69222 support, it was just a "false dip," with the closing price firmly standing above the support level, indicating very strong buying power at the bottom, with many funds buying at low prices. Now the price has returned to around 70400, which is the short-term dividing line between bulls and bears. As long as it can solidly hold 70406 on volume, it can open upward space, first watching the pressure around 71500, and if it breaks through, it is expected to challenge higher levels. If it cannot rush up for now, it is likely to oscillate and consolidate in the 70406-69222 range. As long as it does not effectively break below 69222, the bull trend has not been destroyed.
Ethereum also synchronized with its big brother to complete the bottom exploration, reaching a low near 2098, and quickly rebounded after touching the lower band of the box, currently returning to around 2150. Technically, the price has moved from the lower Bollinger Band toward the middle band, with moderate volume expansion, indicating gradual capital inflow. 2152 is the key resistance level; after breaking through on volume, it can look towards the 2189-2221 range. Pullback to the 2061-2094 range as long as it holds, would be a good low-long opportunity.
Operations: $BTC Bitcoin 69500-70120 buy, target 71450, break above look 726-733, stop 68700
$ETH Ethereum: 2110-2125 range buy! Target 2178 break above look 2216-2258, stop 2085
Although recent geopolitical conflicts have caused some disturbance, the market's expectations for Federal Reserve rate cuts remain, combined with stabilizing market regulation and continuous institutional capital deployment, the overall sentiment for risk assets is warming. The sharp declines of Bitcoin and Ethereum look more like washouts, releasing previous profit-taking pressure and clearing obstacles for subsequent rebounds. As long as key support does not break, continue looking bullish in the near term.