Market Analysis 0716
BTC:
Looking at the 4-hour chart, BTC has significant adjustment momentum, leaving behind two unbalanced zones. However, there is currently a bearish change of character (Choch) in the structure. In the short term, there is likely a need to dip down to acquire liquidity below, with a significant fair value gap (fvg) between 111k-116k. If it dips into this sub-zone, the best entry point for bulls would be in the 110k-112k range; if the European and American markets continue to rally tonight, we could see the 124k level.
ETH:
After breaking through 3080, it continues to advance in a channel formation. In the short term, it should not retrace anymore, looking bullish towards the 3290 level. If accompanied by increased volume, it could see further gains;
BTC has recently attracted approximately $14.8B through ETFs, and favorable conditions in the U.S. stock market and regulations are driving continuous capital accumulation. Additionally, the ETH/BTC ratio is rising, and BTC dominance is nearing its peak, indicating signs of capital shifting towards altcoins.
Considering some quality altcoins might be worthwhile. Dogecoin has lagged behind in the upward trend due to Elon Musk's influence, but such coins have potential.