【Market Outlook on July 16, 25 $BTC $ETH 】
As we all know, after the CPI announcement last night, the market experienced a dual slaughter of bulls and bears, and the competition between the two was quite intense. In the end, the bulls prevailed, with Ethereum strongly rising to 3175. Currently, Bitcoin and Ethereum are consolidating at high levels. I believe this consolidation is to digest the profit-taking. We still need to prepare for the subsequent rise. It can be observed that today the altcoins also saw significant gains. I have been advising everyone to enter some mainstream coins like SOL in the daily report these past few days. From today's news, the ancient whale has transferred another 10,000 BTC, which has not triggered market panic. This transfer was already mentioned yesterday as being off-market. Even if there is a sell-off, it won't happen all at once, so there is no need for excessive worry. Additionally, the ETFs for Bitcoin and Ethereum are still in an inflow state, and the market's catalysts are becoming increasingly strong. The expectation of interest rate cuts is getting closer, and the likelihood of continued market strength is extremely high. I've seen many friends shorting Ethereum suffering; I can only advise one person at a time. It's better to miss out than to short. Go with the trend; I believe I've said this no less than ten times!!
From a technical perspective: Bitcoin has entered a consolidation adjustment after a pullback. The previous candle closed bearish, slightly breaking the 7-day moving average but recovering. It opened today operating around the 7-day moving average, and the Bollinger Bands are expanding with short-term moving averages trending upwards. The 4-hour chart shows the market tested support before a slight rebound, standing above the 7-day moving average and testing the middle band. The Bollinger Bands show signs of contraction, with short-term moving averages operating around the middle band. The MACD fast and slow lines are trending downwards with signs of a turn, volume bars are decreasing, KDJ is crossing upwards, and the VR indicator is consolidating around the 110 value. Overall, the market has entered a period of consolidation after being blocked at a phase top, and we continue to see range-bound fluctuations in the short term.
Bitcoin 4-hour support: 117276 Resistance: 119732
Ethereum 4-hour support: 3096 Resistance: 3205
Today's Fear Index: 71 (Greed) 4-hour Bull-Bear Ratio: 48.1% / 51.9%
Today's Hot News:
🪅 Trump: Will soon send tariff letters to small countries, with rates slightly above 10%
🪅 The probability of the Federal Reserve maintaining interest rates in July is 97.4%
🪅 "The silent whale with 80,000 BTC" transferred 10,000 BTC 9 hours ago
🪅 James Wynn: Bitcoin could rise to $145,000 by the end of July, and the altcoin bull market is about to begin
