BTC dropped to a low of 60606, which coincides with the bottom support of the box. Yesterday, the internal reminder focused on the support at 59600 and 60600 for the second probe. The breakthrough on the 4-hour level continues to rebound upwards.
ETH rebounded relatively strongly after probing 3325, continuing to recover within the descending triangle. This is similar to the previous rebound from the bottom at 2800. With this trend, the probability of the spot ETF for ETH being approved on July 4th is increasing, at least indicating a willingness for funds to flow in.
The ETH/BTC exchange rate once again broke through the 658-day downtrend channel, increasing the probability of the altcoin season approaching. After all, the bottom oscillation has lasted for more than half a year, and the possibility of a real breakthrough has increased.
Bitcoin On the 25th, a downward spike to 58400 indicated the end of the stage of decline, and the market is about to start rebounding! Yesterday's reminder was to wait for the second probe opportunity, as many people have been very panicked due to the recent market downturn.
Although we still believe there is room for further decline in the larger cycle, the market will not turn around immediately, unless it is an extreme market like 519 or 312. However, if such an opportunity does arise, the timing and space for the start of the bull market will be advanced.
The 4-hour breakthrough of the downtrend channel suggests a continued rebound. From the market perspective, the rebound height will not be too high, and 64** will be the resistance. Unless the ETF is approved on July 4th, the possibility of a short-term change in the downtrend. We need to wait patiently for about a week…
Support: Resistance:
Ethereum The Ethereum market is healthier than Bitcoin's. The weekly BOLL midline has not been broken, the daily chart has returned to MA120 and MA60, and the 4-hour descending triangle bottom support is rebounding. The probability of breaking through the upper boundary is very high, as previously mentioned in the analysis. Also pay attention to Ethereum-related varieties and the MEME sector.
Support: Resistance:
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