BTC 1 hour:
Bitcoin fell briefly due to the imminent approval review of the Ethereum ETF, the Federal Reserve's hawkish stance, and the release of the FOMC meeting minutes.
However, market sentiment remains high due to the upcoming expectations on whether the Ethereum spot ETF will be approved. Today, the 23rd, the Ethereum ETF approval result will be announced, so please pay attention to the sharp market fluctuations after the announcement.
The first short-term resistance level is at $69,900 and the second resistance level is at $70,250.
Before the price recovers to the first resistance, the master will maintain the view of short-term decline. Since the previous support range has formed resistance in the supply zone, it will be good news if the Ethereum ETF passes it.
At the same time, there is a high probability of breaking through the upper pressure, but it is currently judged that this is a very strong resistance area.
The first support reference is $69,300 and the second support is $68,800.
The master suggested that the first support can be set as a short-term support line. If the price falls below this support, then you can continue to maintain a bearish view.
In addition, we can also look forward to opportunities for short-term rebounds near the first support line, but considering the break below the supply zone and the upper resistance, we need to pay attention to whether the price will gradually break through the resistance within the small-scale trend.
Please refer to these suggestions when trading
5.23 Master's short-term pre-buried order:
Long entry reference: 68900-69300 range, long in batches, 500 points of defense, 69900-70200
Reference for short entry: 69900-70300 range short in batches, 500 points of defense target 69300-68800
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