Morning Analysis of Bitcoin and Ethereum
Good morning, friends in the cryptocurrency community! Today, let's talk about the latest trends of Bitcoin (BTC) and Ethereum (ETH).
Recently, Bitcoin's performance has attracted much attention. After a series of declines, it has successfully stabilized around the 115,000 level. This phenomenon fully demonstrates that the buying power below remains strong. Even though the short-term price fluctuations have slowed down, the overall bullish trend has not changed. It feels more like the market is undergoing a normal adjustment. On a macro level, the expectations of interest rate cuts by the Federal Reserve continue to ferment, which has a profound impact on the market. As the expectations for rate cuts increase, the market's risk appetite is rising, which is the true driving force behind the rally. In such an environment, we have reason to remain optimistic about Bitcoin's long-term performance.
Looking at Ethereum, its trend has a certain correlation with Bitcoin but also exhibits its own characteristics. With Bitcoin stabilizing, Ethereum is also looking for new support and upward opportunities. Currently, the overall market sentiment is relatively stable, and investors' confidence in the cryptocurrency market is gradually recovering, providing a good external environment for Ethereum's price rebound.
The trading suggestions are as follows:
• Bitcoin: It is recommended to place long positions in the range of 114,500 - 115,000. This range is near the recent support level, where buying power is strong, making it a good entry point. The target is set towards 115,760 - 116,800, where there is some resistance from previous highs, and the price is expected to take profits here.
• Ethereum: You can try long positions around 4,700 - 4,660. This area represents a relatively low point in Ethereum's recent adjustments and has rebound potential. The target is set at 4,780 - 4,880, which is the upper resistance level. If it breaks through, it will open up new upward space.
