Based on the past two days' trend forecast for the next 24 hours:
BTC
1. Technical analysis:
Support level: The current support level of Bitcoin is around $62,500. If it falls below this support level in the short term, it may further pull back to the $61,000 area.
Resistance level: The upper resistance level is $64,000. If this resistance level can be broken, the market may push the Bitcoin price up to $65,000.
RSI: Bitcoin’s RSI indicator may be approaching the overbought region (around 70), indicating that there may be a risk of a pullback in the short term, but the momentum remains strong.
2. Market sentiment:
Market sentiment is generally positive, especially with the recent increase in macroeconomic uncertainty, investors may use cryptocurrencies as a safe-haven tool. In addition, recent capital inflows also show that more investors have increased confidence in Bitcoin.
3. Prediction: If the market sentiment continues to remain positive, Bitcoin is likely to break through $64,000 in the next 24 hours and even challenge $65,000. However, if there is selling pressure, Bitcoin may pull back to the $62,500 level.
ETH trend analysis:
1. Technical analysis:
Support: Ethereum has support at $2,500, below which it could see a correction towards the $2,450 area.
Resistance level: The upper resistance level is $2,600. If it can be broken, it may rise further to $2,650.
MACD: The MACD indicator shows that Ethereum's upward momentum still exists. Although the growth rate has slowed down, there is still room for growth in the short term.
2. Market sentiment:
As expectations for the ETH 2.0 upgrade increase, investors are generally optimistic about Ethereum's long-term prospects. In addition, the boom in decentralized finance (DeFi) and NFT markets continues to provide strong support for Ethereum.
3. Prediction: Ethereum may continue to maintain its upward momentum in the next 24 hours, with a target of $2,600. However, if the market fluctuates significantly, it may fall back to around $2,500.
In the next 24 hours, the overall trend of Bitcoin and Ethereum remains bullish, especially the market sentiment remains positive. Bitcoin's target is above $64,000, while Ethereum may test the pressure level of $2,600. However, we need to be wary of the risk of technical callbacks and it is recommended to pay close attention to the changes in support and resistance levels.
