Bitcoin (BTC) Market Analysis
1. Current Price and Trend
- Bitcoin's price first broke through $120,000 on July 14, reaching a high of $123,000, and then slightly retreated to around $121,500.
- The market is currently in a bullish uptrend, with institutional funds continuously flowing in, and the net inflow of spot ETFs exceeding $1 billion in a single day, supporting the price upward.
2. Key Indicators and Signals
MVRV-Z Score is currently 2.85, not reaching the top warning value of 6.9.
Fear and Greed Index (currently 70, close to extreme greed, caution is needed for a short-term pullback).
RSI (Relative Strength Index) has entered the overbought zone, and a short-term adjustment may be faced.
3. Support and Resistance Levels
Short-term support: $120,000 (if broken, it may pull back to the $115,000-$118,000 range).
Short-term resistance: $125,000, and if broken, it may challenge $135,000-$140,000.
Ethereum (ETH) Market Analysis
1. Current Price and Trend
- Ethereum has recently fluctuated around $2,955, facing short-term resistance at the key level of $3,040.
- Similar to Bitcoin, ETH benefits from institutional fund inflows and expectations of macroeconomic easing, but the short-term upward momentum has weakened.
2. Key Support and Resistance
Short-term support: $2,900-$2,920 (if broken, it may test the $2,820 MA30 support).
Short-term resistance: $3,000-$3,040 (if broken, it may accelerate upward).
Short-term Strategy:
Long Bitcoin near the current price of $1,200,000 targeting $123,000.
Long Ethereum near the current price of $3,000 targeting $3,100.
There are many types of investments, and it is important to choose the one that suits you. There are many paths, and it is crucial to choose the right guide. I am Gu Yue, interpreting world economic news, analyzing global investment trends, providing daily market analysis, and offering you the latest trading strategy ideas and professional investment consulting services to help you reach the peak of financial management.
This article represents personal views only and is for reference only, not to be used as a basis for actual operations. Market conditions are unpredictable, and profits and losses are self-responsible. For the latest trading strategies, follow the public account: Gu Yue KOL.
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