2024.06.05 Wednesday

After the rise of Bitcoin, will Ethereum be the next?

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① 20:15 US May ADP Employment Numbers

② 22:00 US May ISM Non-Manufacturing PMI

1. Daily Chart: After testing the 60,000 support level, the price has maintained above it and is oscillating. If it does not break this level during a pullback, the upward trend will continue.

2. 1-hour Chart: After a short-term breakthrough of the 70,000 level, the price continued to rise. If it does not break this support level during a pullback, there is still a trend of further increase.

II. Ethereum

1. Daily Chart: After oscillating and testing the 3,100 level, the price rose again. If it does not break this key level during a pullback, the upward trend will continue.

2. 1-hour Chart: After a short-term breakthrough of the 3,750 level, there was some adjustment. If it does not break this support level during a pullback, there is still a trend of further increase.

I. Bitcoin

1. Yesterday's Viewpoint:

Summary: After a short-term breakthrough of the 66,000 level, there was a pullback. If it does not break this support level during a pullback, the upward trend will continue. Resistance above is at the 70,700 and 73,440 levels; if it breaks below, a pullback trend will start, with support at the 63,400 and 60,600 levels.

Future Trend:

After a pullback without breaking the 66,000 level, it rose again and successfully reached the first target at 70,700, with the highest reaching 71,389.

II. Ethereum

1. Yesterday's Viewpoint:

Summary: After a short-term breakthrough of the 3,650 level, there was some adjustment. If it does not break this support level during a pullback, the upward trend will continue. Resistance above is at the 3,950 and 4,110 levels; if it breaks below, a pullback trend will start, with support at the 3,460 and 3,310 levels.

2. Future Trend:

After a pullback without breaking the 3,650 level, it oscillated and rose, reaching a high of 3,845.

I. Bitcoin

Summary: After a short-term breakthrough of the 70,000 level, the price continued to rise. If it does not break this support level during a pullback, the upward trend will continue. Resistance above is at the 74,000 and 76,600 levels; if it breaks below, a pullback trend will start, with support at the 67,000 and 64,500 levels.

II. Ethereum

Summary: After a short-term breakthrough of the 3,750 level, there was some adjustment. If it does not break this support level during a pullback, the upward trend will continue. Resistance above is at the 3,980 and 4,140 levels; if it breaks below, a pullback trend will start, with support at the 3,600 and 3,450 levels.

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