Overall, today's coin price continued the upward trend from yesterday and broke through the high, but the movement was relatively hesitant. Yesterday's strong upward trend not only consolidated the short-term bullish trend, but also led to the breakthrough and stabilization of the resistance level from last week on the daily chart. Barring any surprises, the coin price is likely to rebound in the evening. Intraday, there was a short-term breakthrough but a pullback after reaching the high. Bitcoin fluctuated upward in the morning around the 69700 level, and the key point in the evening on the hourly chart is the stabilization around the 71000 mark. Intraday short-term fluctuations have been revolving around this level, with two unsuccessful breakthroughs. It is advisable to consider positioning long orders around this level in the evening.

As for Ethereum, the hourly chart accelerated its upward trend after breaking through the upward channel yesterday, and continued to fluctuate upward intraday, currently adjusting around the 3650 level. 3650 happens to be the resistance level where it encountered pressure and fell back in the early morning, equivalent to Bitcoin's 71000. In the evening, while maintaining a bullish view, the focus should be on the pressure situation at the key resistance level. As long as it stabilizes, the coin price will accelerate rebound like yesterday. If it encounters pressure, then the short-term intraday fluctuation trend will continue. Even if there is a pullback in the US market, the focus should still be on long positions. In the current trend, the risk of going short is too high with low returns, so it is not recommended for now.

In the evening, it is recommended to go long on Bitcoin at 70600-70800, with a target of 72000; and on Ethereum at 3600-3620, with a target of 3800.

This article is an original analysis by myself, Xiaofeng, and the above analysis is for reference only. Investment carries risks, so caution is advised when entering the market. Please indicate the source when reposting! For more analysis and recommendations, follow the public account: Xiaofeng's Coin Analysis

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