Bitcoin (BTC) Market Analysis:
The weekly level shows a 7% bullish candlestick rebound, with price trends showing signs of an upward turn. However, it is important to note that during the current upward movement, trading volume is showing signs of shrinkage, indicating an insufficient volume-price relationship. This pattern of rising on decreasing volume may hide risks of a false bullish signal, and investors should be wary of possible pullbacks or false breakout trends.
The daily chart shows that the price is currently in the third peak area of the second wave rebound. Although there has been a bullish trend recently, the trading volume is gradually shrinking, reflecting a lack of market participation enthusiasm, and major funds have not yet clearly intervened. Technically, if there is a volume breakout above the upper boundary of the triangular consolidation, it may initiate a new round of upward movement.
Short-term trading strategy:
Key resistance zone above: $1088-$1098 area, consider short positions on rallies.
Important support level below: $1073-$1063 range.
Ethereum (ETH) Technical Analysis:
The weekly level shows a 12% increase in a bullish candlestick, but compared to the volume during the rebound from the April lows, it has significantly shrunk. The price is currently testing the 30-day moving average resistance level, which has continuously suppressed price movements for the past one and a half months. In the absence of matching volume, caution is needed for potential bullish trap risks.
The daily level has recorded three consecutive bullish days, but trading volume shows a decreasing trend. Above $2530 is a previously consolidated trading area for a month, which poses strong selling pressure. The 4-hour chart shows that the price has faced resistance and retreated twice around $2520, confirming the strength of resistance in this area.
Intraday trading recommendations:
Resistance zone above: $2520-$2550, consider establishing short positions opportunistically.
Support area below: $2450-$2420 range.
