Today is the last day of July. Let me talk to you about Bitcoin and Ethereum~
Recently, the trend of Bitcoin has become the focus of market attention. Its price has shown a correction trend for two consecutive days. This trend not only affects the nerves of every participant, but also indicates that the market may be undergoing an important adjustment period.
From the perspective of technical analysis, Bitcoin's daily chart and 12-hour chart have not shown clear signs of falling back to the key support level. This usually means that the market has not completed its short-term correction process. Investors may need to remain cautious and pay close attention to subsequent price trends. As an important watershed of market sentiment, once the key support level is effectively broken, it often indicates that further downward space will be opened.
At the same time, the trend of Ethereum has also been affected by the callback of Bitcoin. As an important member of the market, Ethereum's daily closing line once again failed to stand above the key psychological price of $3,300, which further exacerbated the market's concerns. Ethereum's weakness not only reflects its close linkage with Bitcoin, but also suggests that the entire cryptocurrency market may be in a relatively fragile stage.
Looking ahead to tomorrow, as the July monthly line is about to close, today's market trend will undoubtedly be of vital significance. For Bitcoin, if its monthly closing price fails to remain above $64,500, then this is likely to be seen as a bearish signal, indicating that the market will continue to face pressure to pull back in early August.
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