5.7 Market Overview
① Market Summary
Bitcoin: Currently priced around $95,800, with a low of $93,400, a price difference of $2,400, and a fluctuation of about 2.6%. On-chain data shows that the cost basis of short-term holders is highly concentrated, indicating frequent turnover of chips recently, which may signal increased volatility. It is currently in a consolidation range. The short-term RSI may approach the oversold area, with the potential for a timely rebound. If it breaks through $97,000 with volume, the short-term trend will turn bullish. The weekly chart forms an ascending wedge; if it breaks the upper bound at $100,000, it may enter a new round of increases; if it falls below the lower bound at $87,000, it may correct to $80,000.
Ethereum: Currently priced around $1,800, with a low of $1,752 and a high of about $1,830.80, fluctuating around 4.8%. Net inflows to exchanges have decreased, and holders tend to prefer cold storage, reducing selling pressure. On-chain data indicates that the cost basis for short-term holders (1-3 months) is concentrated between $1,800 and $2,000. The short-term trend is neutral to bearish, with a need to pay attention to the support at $1,750 and the resistance at $1,825. The medium-term target is $2,000.
② Bitcoin resistance levels: $95,800-$97,000, support: $93,400-$94,500
Ethereum resistance levels: $1,830-$1,870, support: $1,750-$1,770
