BTC, ETH July 23 Market Analysis

$BTC Structure:

1D (Daily)

Structural Form: Still in an upward trend, currently oscillating near previous highs. A potential double top pattern has formed in the short term, but it is not confirmed.

4H

Structure: Multiple lower highs have formed in the premium zone, currently attempting to challenge the previous high again.

Characteristics: Bottoms are rising while the tops are consistent, showing a state of 'converging consolidation → accumulation breakout or sharp decline'.

Today's Key Area:

121,000 is the key level; if broken, look for 123,500 - 124,000.

If it cannot break 121,000, then expect successive pullbacks to 118,500 → 112,500.

$ETH is currently challenging 3,780–3,800; if it breaks, 3,940–4,000 is the main pressure zone above.

Due to the current market showing a certain intention of the main force to raise prices and unload, it is currently in a high-level divergence phase;

Price is stronger than indicators, a typical inducement structure of 'price leading but momentum not following';

So currently, the main focus is on the support level of 3,645–3,600; if it breaks and retests 3,600–3,500, there will be very good opportunities for low-cost entries.