June 27th Old Investor Discusses Coins: BTC, ETH Daily Interpretation Highlights, How to View Future Trends?

Market Review and Analysis

BTC closed yesterday with a small bullish candle on the daily chart, indicating a state of weakening upward momentum. The early morning pullback was not significant, and based on the current trend, a period of consolidation is expected; there will not be an immediate drop below support, and the market will not fall back to the starting point right away, but will instead experience small oscillations around the current position. ETH saw a slight rebound yesterday, but did not break resistance; the highest point reached was just at the resistance level of 2520, before pulling back down over a hundred dollars, eventually floating down to around 2380 in the early morning. This rebound is essentially just BTC's rebound, with other coins not experiencing much of a recovery. The second coin has not seen increased volume that would lead to a broad market rebound. If BTC breaks down, it will result in another turbulent market.

Today's Highlights Interpretation

BTC is currently in a consolidating trend. Based on the current candlestick patterns, attention can be paid to the pullback strength over the past few days. Although it will not decline significantly all at once, it will trend downwards gradually. The daily support levels to watch are in the range of 103500-104500 as defensive lines. The current four-hour resistance level is around 108000 for the high point. Therefore, if it slowly oscillates and breaks below 103500, it will quickly fall below the hundred thousand mark again. Next time, it will completely break down, unlike the previous spike.

ETH is showing a slightly weak performance; after reaching the resistance level of 2520 yesterday, it began to retreat. However, the retreat has been gradual, without the appearance of large bearish candles on the hourly chart. The market is slowly eating away at the price. According to the current trend, the daily resistance is now at the range of 2460-2480, which will also trend downwards like BTC. The support level to watch below is around 2380, which was the key support level focused on yesterday, and today it has approached this level. It remains to be seen whether it can break below this level today; if it does, we could smoothly see the range of 2200-2300.