Current status of Bitcoin market
It has been volatile recently, but has not fallen below key technical levels. 1-hour chart: It has not fallen below the Fibonacci 0.5 retracement level. 4-hour chart: The third bottom divergence appears, showing that the market is resisting the decline. The rebounding positive line of $64,300 has not been swallowed up, showing strong support.
Operation suggestions
It is not recommended to open short orders at the low level of $64,600. Watch for support at $64,300 and $63,200. Consider short short orders at $66,500 and $66,900.
Ethereum market status
Ethereum has seen a double bottom, and its trend is stronger than that of Bitcoin. The daily level MACD has seen a bottom divergence, suggesting that the market may have a chance to rebound. It is not advisable to be overly bearish. Ethereum is trending stronger than Bitcoin, so market dynamics should be paid close attention to.
Operation suggestions
If $3,470 does not fall below effectively, you can try to long order. Consider short short orders at the pressure levels of $3,625 and $3,660. Spots can be purchased in small quantities, so be cautious.
To summarize Bitcoin:
Watch for support at $64,300 and $63,200. It is not recommended to open short orders at the low level of $64,600.
Ethereum:
The next focus is on the $3,325 and $3,287 support levels. If $3,470 does not fall below, you can try to long order. Consider short short orders at the pressure levels of $3,625 and $3,660.
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