25/07/17 ETH rebounds to 3483, BTC adjusts. How will it go from here?

Bitcoin peaked at 123274 and then retraced to a low of 115751, continuing to maintain short-term adjustments. Yesterday, the gentleman mentioned that Bitcoin needs short-term adjustments; some friends disagreed with him, but some others were looking for attention here, so I won't be polite.

Ethereum peaked at 3482, rebounding from a low of 1381 to now have increased by 1.5 times, and from 2111 to now it has also increased by more than 60%.

The US dollar index has broken through the downtrend line and has a descending wedge breakout, currently seeing a rebound. We need to observe the height of this rebound; the US dollar index is inversely correlated with Bitcoin, so we need to pay attention. Gold has formed a triangular structure at high levels; we should focus on the subsequent breakout situation of the triangle. From a technical indicator perspective, there is a need for a pullback, but the price can maintain a high-level adjustment, so we should first pay attention to the direction of the converging triangle.

Bitcoin

Today, the short-term continues to adjust, with a one-hour pullback near 117500 providing support. So let's look at the height of the rebound? If it still cannot create a new high, then the time cycle of this adjustment will be extended.

From the daily perspective, breaking through the historical high means the probability of continuing to rise is still relatively high, as long as it does not drop back below 112000. However, this bull market is completely different from past one-sided rallies, and the profit effect is not so significant.

Support: 112000—114000—115751

Pressure: 120000 to 123274

Ethereum

The gentleman has been optimistic about Ethereum's rebound for a long time, including oscillating between 2300 and 2700 for two months. He still reminds us that the probability of a subsequent rebound is quite large, but now he does not recommend chasing the rise. The pressure points at 3550, 3750, and 4100 are all resistance levels.

The upper edge of the converging triangle at the daily and weekly levels is also a very significant pressure point. The Fibonacci retracement broke through 0.618 and is now below 0.786, often experiencing significant resistance between 0.786. Therefore, the gentleman's advice is to sell some on the way up if you have accumulated at the previous bottom, while short-term traders can reduce some and then add back on a pullback. Long-term holders do not need to take action.

Support: 3050—3250

Pressure: 3550—3750—4100$BTC $XRP $SOL #以太坊连续两日领涨 #特朗普施压鲍威尔 #山寨季何时到来？