6.2 Bitcoin and Ethereum Market Analysis
Bitcoin’s weekly gain of six consecutive candles rose from around 74,000 to around 112,000, increasing by 37,000 points. There were no significant pullbacks during this period, with three instances of box consolidation movement. The first two instances of box consolidation were entity breakthroughs, and after the last instance, the pressure from above restrained the market, leading institutions to take profits and retail investors to exit. Those who failed to retreat were completely wiped out.
Looking at the whiteboard, Bitcoin attempted to break the 106,000 level twice in the morning and afternoon but failed to do so effectively. The market conducted two rounds of upward movement followed by a drop, forming a double top at the previous weekly level.
Below, Bitcoin has tested the 103,000 level for a second time, and short-term operations may be more stable there.
As mentioned before, in a range-bound market, as long as the range is identified correctly, there are opportunities for trading. Just pay attention to the volatility range.
Currently, Bitcoin has a risk of turnover. Do not hold positions blindly; take profits when available. In the evening, continue to operate within the 103,000-106,000 range with a high sell low buy approach. For the medium to long term, it’s advisable to wait for a good opportunity rationally.
Ethereum has not moved in the same way as Bitcoin previously, but recently the volatility has begun to synchronize. After the consolidation phase ended in April, Ethereum began to strengthen continuously to around 2780 in May. It is now starting to lean towards consolidation again, with the first support at 2450-2400 on the 4-hour chart, while the short-term pressure at 2600 cannot be broken for now.
Recently, Ethereum's volatility has indeed been significant, with fluctuations close to about a hundred points. ETH trading volume seems to have doubled compared to before.
Before the consolidation is complete, it is recommended to operate in the short term. In the evening, look first at the top of the range; upon reaching it, enter again for another pullback. The overall daily trend still primarily indicates a correction. Pay attention to turnover signals and manage your positions well.
Bitcoin
103500-103700 looking up to 104800-105500
Ethereum
2460-2480 looking up to 2520-2550
Yumi specializes in answering questions and clarifying doubts. If you have positions and don't know how to decide, feel free to ask directly. Surviving in the crypto space is not easy for anyone; every encounter in life has its meaning. Regardless of the outcome, I hope everyone can thrive in the crypto world!
#韩国加密政策 #特朗普媒体科技集团比特币财库 #加密市场回调
Bitcoin’s weekly gain of six consecutive candles rose from around 74,000 to around 112,000, increasing by 37,000 points. There were no significant pullbacks during this period, with three instances of box consolidation movement. The first two instances of box consolidation were entity breakthroughs, and after the last instance, the pressure from above restrained the market, leading institutions to take profits and retail investors to exit. Those who failed to retreat were completely wiped out.
Looking at the whiteboard, Bitcoin attempted to break the 106,000 level twice in the morning and afternoon but failed to do so effectively. The market conducted two rounds of upward movement followed by a drop, forming a double top at the previous weekly level.
Below, Bitcoin has tested the 103,000 level for a second time, and short-term operations may be more stable there.
As mentioned before, in a range-bound market, as long as the range is identified correctly, there are opportunities for trading. Just pay attention to the volatility range.
Currently, Bitcoin has a risk of turnover. Do not hold positions blindly; take profits when available. In the evening, continue to operate within the 103,000-106,000 range with a high sell low buy approach. For the medium to long term, it’s advisable to wait for a good opportunity rationally.
Ethereum has not moved in the same way as Bitcoin previously, but recently the volatility has begun to synchronize. After the consolidation phase ended in April, Ethereum began to strengthen continuously to around 2780 in May. It is now starting to lean towards consolidation again, with the first support at 2450-2400 on the 4-hour chart, while the short-term pressure at 2600 cannot be broken for now.
Recently, Ethereum's volatility has indeed been significant, with fluctuations close to about a hundred points. ETH trading volume seems to have doubled compared to before.
Before the consolidation is complete, it is recommended to operate in the short term. In the evening, look first at the top of the range; upon reaching it, enter again for another pullback. The overall daily trend still primarily indicates a correction. Pay attention to turnover signals and manage your positions well.
Bitcoin
103500-103700 looking up to 104800-105500
Ethereum
2460-2480 looking up to 2520-2550
Yumi specializes in answering questions and clarifying doubts. If you have positions and don't know how to decide, feel free to ask directly. Surviving in the crypto space is not easy for anyone; every encounter in life has its meaning. Regardless of the outcome, I hope everyone can thrive in the crypto world!
#韩国加密政策 #特朗普媒体科技集团比特币财库 #加密市场回调
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
104,631.33
-1.07%
ETH
2,611.92
-0.74%
