Analysis of Bitcoin and Ethereum Rebound Market: What is the Potential for Further Upside?

Recently, the cryptocurrency market has shown signs of warming up, with the rebound of Bitcoin and Ethereum becoming the market focus. From the current trend, this round of rebound has not yet concluded, and there is still potential for further upside, but we need to be cautious of the gains and losses at key support levels and the risk of pullbacks after reaching new highs.

Bitcoin: 1-hour Level Rebound Continues, 120,000 Becomes Short-term Target

The rebound rhythm of Bitcoin is basically in line with expectations, and it has currently stabilized above 118,000 points, in a 1-hour level rebound cycle. According to the current momentum, there is a high possibility of further pushing towards the 120,000 mark. However, 117,500 points is the key support level for this rebound; if the price falls below this point, the rebound process may be forced to end prematurely.

From a short-term 15-minute perspective, the upward momentum has not yet been exhausted; even if a brief pullback occurs, there is a high probability that it will rebound again. Therefore, as long as the price remains above 117,500 points, short-term expectations for higher levels can still be maintained. However, it is important to note that after reaching new highs, the market is likely to face a stronger 1-hour level decline, which is a risk that needs to be prioritized in the subsequent market.

Ethereum: Stabilizing at Key Range, Aiming for 4,790 Points

After successfully stabilizing in the 4,350~4,400 range, Ethereum has also started a 1-hour level rebound. The rebound momentum is good, and if it maintains its strength, it is expected to push towards 4,790 points. For Ethereum, 4,430 points is an important watershed for the continuation of the rebound; if the price remains above this point, there is a possibility for the rebound to continue; once it falls below, it may trigger a new 1-hour level decline.

Similar to Bitcoin, it is expected that after reaching new highs, Ethereum will enter a 4-hour level adjustment phase, so everyone needs to be prepared in advance.

Multi-Cycle Trend Perspective: Short-term Rise Coexists with Medium to Long-term Adjustment

From the perspective of various cycle trends, the market shows obvious differentiation characteristics:

- Weekly level maintains an upward trend, indicating that there is still some support in the medium to long term;

- Daily and 4-hour levels are in a downward trend, meaning that medium-term adjustment pressure has not been fully released;

- 1-hour and 15-minute levels, both Bitcoin and Ethereum are in an upward channel, with short-term rebound momentum dominating the market. $BTC $ETH #美国7月PPI年率高于预期