$BTC 7.22 Tuesday afternoon Bitcoin and Ethereum latest market analysis and trading suggestions
Federal Reserve Chairman Powell will attend a regulatory meeting related to the comprehensive review of large banks' capital framework and deliver an opening speech. His remarks are expected to focus on regulatory topics such as the final Basel III framework, stress tests, capital surcharges for large banks, and leverage requirements. However, due to recent pressures from Trump and Republican lawmakers regarding the Federal Reserve's headquarters renovation budget overruns, his speech remains a focal point of interest for traders and investors.
Looking back at the morning, Bitcoin showed a clear fluctuation pattern, initially dipping to a low of 116156 before halting the decline, followed by a rapid rebound, currently reaching a high of 118563. Ethereum, on the other hand, moved in the opposite direction, peaking at 3798 in the morning before facing downward pressure, eventually dropping to a low of 3648 by noon. After taking profits from short positions in the early hours, Bitcoin's movement was as expected, entering long positions with a gain of over 3700, while Ethereum also took early long positions and later shorted for over 220 points in gains!
From the current market perspective, on the four-hour level, both the MACD indicator DIF line and DEA line are above the zero axis, with the DIF line positioned above the DEA line, and the bullish momentum bars continue to expand, indicating that bullish strength dominates in the short term. However, the current RSI indicator has reached 75, entering the overbought zone, which usually signals a potential price pullback. Additionally, the KDJ indicator has formed a death cross in the overbought area, further suggesting that Bitcoin's price may face adjustments in the short term. If it breaks below the support level, it may open up further downside potential, and caution against bearish sentiment is needed; therefore, the suggestion in the afternoon is to focus on buying on dips.
Tuesday afternoon strategy:
Buy Bitcoin near 117000-116500, target 119000, and continue to look up if it breaks through.
Buy Ethereum near 3610, target 3750.
Turning off the software to sleep, closing my eyes is filled with the confidence of when entering the market: "This time I will definitely grasp the trend." Now only the repeated internal struggle of reviewing: if only I had taken profits in the morning, if only I hadn't touched that contract, if only I had listened to the advice not to chase highs... When dawn arrives, I realize that the phone by my pillow is still on, and the position page is stuck on that glaring negative number.
