25/07/16 BTC continues to adjust, ETH starts to rebound, and altcoins experience a significant rebound.
Bitcoin rebounded after hitting a low of 115751 last night and is currently around 119500. Here, it may need to adjust for a while. Ethereum's rebound peaked at 3265 (as of the time of writing). The ETH/BTC exchange rate has broken out on the daily chart, and funds flowing to Ethereum and altcoins will experience a significant rebound.
The US dollar index has rebounded for half a month, and the downward trend line has been broken. US Treasury bonds for five and ten years are in a weekly level convergence. After the triangle oscillation time is prolonged, the probability of subsequent decline is relatively high.
Big coin
The big coin peaked at 123200 before pulling back. Currently, it is rebounding near 119500, so for a while, it may oscillate around 115000 to 120000 for a long time.
In addition, as Ethereum and altcoins experience a significant rebound, funds will flow towards them, but as long as the big coin does not drop back below 112000, it is still bullish.
The big coin only needs to continue to stabilize and adjust, which will give Ethereum and altcoins the opportunity to rebound. Currently, the focus is on expectations of interest rate cuts; only when the formal interest rate cuts occur will the risks increase.
Support: 112000—114000—115000
Resistance: 120000—123000
Ethereum
Ethereum has begun to rebound. Yesterday's analysis also mentioned a sharp rise and fall of the big coin, but Ethereum has basically recovered from the decline. Moreover, Ethereum's price trend over the past two years has been a bottom consolidation, followed by a unilateral rise after a few months. Currently, it is very close to our first target of 3300. The ETH/BTC exchange rate breakout has led to a significant rebound in Ethereum and altcoins. Previously mentioned SUI, XRP, BONK, SEI have all seen their prices double, and next, we should pay attention to some altcoins that have not yet rebounded, such as...
Support: 2900—3100
Resistance: 3300—4000
