Crypto Circle Scholar: 7.1 Bitcoin BTC and Ethereum ETH Latest Market Analysis and Reference Suggestions
Bitcoin Market Analysis
As of the time of publication, the current price of Bitcoin is 107700. The monthly chart is about to close, and there is one signal to pay attention to: three consecutive monthly gains, and the weekly closing remains high, constantly testing the upper resistance level. There is an old saying that prolonged attacks on a resistance level will eventually break it, so one must be mentally prepared for a potential breach of the resistance level, especially with the strong pressure forming at the upper resistance level of 108500 on the descending trend line. This position can be tested for a downward move, but once it is breached, there is a high probability of increasing upward momentum. At this time, if one chooses to go south, the issue of setting a stop-loss must be considered, so defense and stop-loss must be well managed. If the main force raises prices and sells off, it will create a divergence trend at the top, and that’s all I have to say.
The intraday reference points are as follows:
If the upper range of 108500 to 108800 does not break, go south, stop-loss at 300 points, first target 107000.
If the upper range of 108500 to 108800 breaks, go north, stop-loss at 300 points, first target 109500.
Ethereum (ETH) Latest Market Analysis Reference
As of the time of publication, the current price of Ethereum is 2485. Unlike Bitcoin, the end of this month, on the 30th, marks the 10th anniversary of Ethereum. At this time, the main force wants to profit, and retail investors also want to profit. For spot traders, enduring the long game means ignoring short-term fluctuations. Contract traders should reduce their order frequency. If the main force cannot harvest profits, they will not let retail investors have it too easy, leading to a long-term sideways trend. The consistent strategy with Ethereum is akin to boiling a frog in warm water; the best approach is a quick in-and-out mode, not suggesting frequent trading within a day, but rather taking profits when they are favorable to prevent being tricked by the main force.
Intraday reference points:
If the upper range of 2510 to 2530 does not break, go south, stop-loss at 30 points, first target 2430.
If the upper range of 2510 to 2530 breaks, go north, stop-loss at 30 points, first target 2600.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be a delay in the article's publication. Suggestions are for reference only and risks are borne by the reader.