💥7.16 Yesterday's Market Review and Analysis
BTC experienced volatile consolidation yesterday; despite CPI data being somewhat negative, the market showed strong resilience, and prices did not exhibit significant declines. The 4-hour structure is well repaired, and the daily line closed with a long upper shadow, indicating potential signs of a peak in the short term, with expectations to enter a consolidation phase. It is recommended to pay attention to macro news and the progress of the Federal Reserve's interest rate cuts.
ETH followed BTC's overall trend, breaking through the 3100 resistance level in the morning. The 4-hour pattern is healthy, starting to catch up, and there are signs of forming an independent market trend, with short-term expectations being relatively strong.
Altcoins are fluctuating in sync with mainstream currencies, and the altcoin index has slightly increased, with some coins experiencing broad gains. Currently, funds are still concentrated in mainstream coins, and it is advisable to wait for BTC to stabilize before strategically investing in altcoins.
📊 Intraday Market Analysis
$BTC : Short-term trend has returned to health, daily line is repairing, expected to be mainly fluctuating.
Support level: 116000–117000, Resistance level: 118500–119500.
$ETH : The structure remains strong, expected to continue upward.
Support level: 3000–3050, Resistance level: 3200–3300.
🚀 Trading Suggestions:
Continue holding mainstream coins, mainly focusing on short-term high selling and low buying; maintain low positions in altcoins, paying attention to the rhythm of fund rotation; for hot sectors like SOL MEME, consider light positions for speculative plays, and be cautious of chasing highs.
Continue to pay attention to: C $ETH CATI REZ CROSS
