Morning Market Analysis:
BTC: With the Israel-Palestine conflict entering a ceasefire stage, market risk aversion is retreating, risk assets are warming up, and coupled with the enhanced expectations of the Federal Reserve not raising interest rates, the US dollar index is weakening, which is favorable for Bitcoin. Bitcoin rose nearly 5% yesterday, closing with a large bullish candlestick on the daily chart. Since reaching a high of 110,000 on June 10, it has overall entered a wedge-shaped converging downward channel (red trend line). This morning, it peaked around 106 before retreating slightly after hitting the upper trend line. The red downward trend line channel has not yet been broken. If it can continue to rise today and break through and stabilize above 107, Bitcoin may continue to challenge new highs in the short term. However, from the 4-hour chart perspective, the rebound highs during the entire decline over the past half month are gradually decreasing, and the volume increase in the early morning formed a double top pattern. For today's operations, primarily consider high-risk short positions. The potential for a significant drop is small, while the potential for a direct drop is large. Key resistance to watch above is the 1055-1065 range, and key support below is the 1025-1015 range.
ETH: The daily chart closed with an 8% increase yesterday, but it is still within a short-term downward channel (red downward trend line). If it can maintain the upward trend today, breaking through 2450 and stabilizing above 2480 will break the downward channel that has been in place for nearly half a month, leading to a bullish market. From the 4-hour chart perspective, it is currently at a high position in the overall downward rebound, and it is also the double top position within the last three days. There is significant selling pressure starting from the 2480 position above. For today's operations, focus on the 2430-2460 resistance level to take short positions, with a smaller risk for long positions, and key support to watch below is the 2330-2300 range.
