July 15 Bitcoin and Ethereum Market Analysis: BTC and ETH Today's Focus
Market Review
Yesterday, BTC continued its upward trend, once again setting a new historical high, but the 4-hour chart showed a top divergence pattern, initiating a pullback during the early morning hours. Patience is needed as we wait for the consolidation to end. Tonight, the CPI data is about to be released, which is worth paying close attention to, as the market expectations lean towards negative. From a daily perspective, a long upper shadow has appeared, with short-term signs of a peak. The demand for a pullback and consolidation is evident, and it is recommended to maintain a wait-and-see approach. The weekly trend is gradually recovering, and we need to pay more attention to the dynamics of the fundamentals and the Federal Reserve's interest rate cut process. From a larger cycle perspective, a new round of the weekly rising cycle has been initiated, and it is highly likely that the day will focus on pullback and consolidation.
ETH is consolidating in sync with BTC, failing to break through the resistance level of $3100. The downward momentum on the 4-hour chart has slightly increased, and it still needs time to complete the consolidation. The overall trend on the daily chart remains healthy, and we need to continuously monitor the pace of consolidation, with expectations for the day also focused on pullback and consolidation.
Altcoins are consolidating in sync with mainstream coins, with the altcoin index slightly rising. Most coins have started a general uptrend, but currently, we still need to wait for liquidity to shift, and it is recommended to consider following up after mainstream coins stabilize. Coins in the ETH ecosystem are significantly influenced by ETH's movement and need to wait for stabilization signals. Recently, Binance has been active, with continuous launches of Alpha point-related activities, which can be participated in for point accumulation in preparation for the next round of activities; the activity on the SOL chain continues to rise, and we can pay more attention to the dynamics of MEME-type coins.
Today's Focus:
BTC is returning to normal at the 1-hour, 4-hour, and daily levels, with expectations for pullback and consolidation during the day. The support range is $113,500 - $114,000, and the resistance range is $118,000 - $119,000.
ETH is also returning to normal at the 1-hour, 4-hour, and daily levels, with expectations for pullback and consolidation during the day. The support range is $2,750 - $2,800, and the resistance range is $3,000 - $3,100.
