BTC and ETH Short-Term Trend Analysis: Will the 5th Wave Peak or Retrace Before Rising Again? Powell's Testimony Tonight at 10 PM May Ignite Market Movements!

BTC Trend Analysis

BTC found support in the 104000-104500 range, and in the short term, we are looking at whether the 5th wave can break through the previous high of 106050. If it breaks through, pay attention to the resistance level around 107500. Powell will deliver the semi-annual monetary policy report at the congressional hearing tonight at 10 PM, which may lead to increased market volatility. After the peak of the 5th wave, be wary of the risk of a 3rd or 5th wave retracement, which could test the 104000 support.

ETH Trend Analysis

The key support for ETH is between 2350-2380, and the 5th wave needs to break through the previous high of 2440. If the breakout occurs, pay close attention to the resistance level around 2520. Similarly, influenced by Powell's testimony, there may be a peak around 10 PM, followed by a potential retracement, so monitor the performance of the 2350 support.

Retracement Opportunity: If a retracement occurs after the peak of the 5th wave, consider buying low around 104000/2350 and focus on the retracement structure (3rd or 5th wave).

Risk Warning: Powell's speech tonight at 10 PM may trigger significant volatility, so it is advisable to set strict stop-loss orders and manage positions.