Cryptocurrency Circle: 7.7 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis

Bitcoin's current price is 63700, and the price is stuck between the middle and upper bands of the Bollinger Bands, feeling like it has rested enough to choose a direction. The short-term moving average system is significantly higher than the long-term, indicating that the overall trend is still bullish, just with a bit of minor adjustments in between. The MACD looks a bit like a false fall. The EMA moving averages are showing the initial shape of a bullish arrangement, with EMA7 crossing above EMA30, and the price firmly standing above EMA120, indicating a strengthening medium to long-term trend. After the Bollinger Bands' opening narrowed and flattened, the price is running between the middle and upper bands, showing the market is in a consolidation phase. A breakout above the upper band would open up upward space. The bearish momentum of the MACD indicator is weakening; if the DIF crosses above the DEA again, it will confirm the bullish signal.

Short-term strategy reference: Focus on going long during short-term pullbacks, and supplement with chasing after breakouts.

For going long at 63000-62500, stop loss at 62000, target at 63500 aiming for 64000.

For going short at 65500-66000, stop loss at 66500, target at 64500 aiming for 64000.

Ethereum

Folks, Ethereum was at 1800 before this article went out, textbook-level V-shaped reversal! When it dipped to around 1500 a while ago, many people got scared off. As a result, it lingered at the bottom for a few days and then shot up with a big green candlestick. The current price is securely standing at the 1800 level. The bulls have regained the initiative, and the moving average system is gradually repairing into a bullish arrangement. The technical indicators have formed a typical golden cross divergence pattern, and the MACD indicator is experiencing normal pullbacks during its upward journey, with no death cross signals appearing, and momentum still exists. The Bollinger Bands are opening upwards, and the price is closely following the upper band; currently, the price at 1802 slightly breaks above the upper band, showing a strong desire to attack, but also hints that there may be short-term demand for a pullback to the middle band to confirm support.

Short-term entry reference:

For going long at 1750, defense at 1700, stop loss at 1650, target at 1800 aiming for 1850.

For going short at 1840, defense at 1860, stop loss at 1900, target at 1780 aiming for 1730.

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