Bitcoin (BTC) Technical Analysis:
Geopolitics: Ceasefire agreement reached in the Middle East, market risk appetite rebounds. Monetary Policy: Expectations of a pause in interest rate hikes by the Federal Reserve strengthen, putting pressure on the U.S. dollar index. Capital Flow: Safe-haven funds shift to risk assets, driving Bitcoin's surge of 5% yesterday.
Daily Level: Showing a converging wedge descending channel (formed from the June 11 high of $110,000) with a significant bullish candle yesterday, but constrained by the trendline pressure at $106, key breakout level: $107 (upper channel line)
4-Hour Level: The rebound high points are showing a decreasing trend ($110K → $108.5K → $106K) forming a potential double top pattern in the early morning; volume-price relationship: price increase accompanied by increased trading volume.
Upper Resistance: $105,500 - $106,500 (trendline + Fibonacci 38.2%)
Lower Support: $102,500 - $103,000 (short-term support) $101,500 - $102,000 (strong support range)
Trading Suggestion: Short on rallies, ideal entry: $105,800 - $106,300
Ethereum (ETH) Market Analysis
Daily Level: Yesterday surged by 8%, but still constrained by the upper trendline of the descending channel, key breakout level: $2,480 (channel break confirmation point)
4-Hour Level: At the fourth high point of the rebound in a downtrend, significant selling pressure exists near $2,480, forming a short-term double top pattern.
Upper Resistance: $2,430 - $2,480 (trendline pressure)
Lower Support: $2,330 - $2,300 (short-term support) $2,250 - $2,280 (strong support range)
Ethereum Trading Suggestion: Short on rallies, ideal entry: $2,430 - $2,480
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