1.6 Afternoon Bitcoin and Ethereum Market Analysis and Trading Recommendations
Currently, a minor correction has occurred, with short-term intra-day resistance still focusing on the previous high of 94700. If this resistance level cannot be effectively broken, the market will remain in a downward trend, with the next support targets at 92600. If it breaks below this, further declines could target the 91500-90500 zone. If the price makes a second rally and breaks through the 94700 resistance, the upper resistance to watch is 96000-96500.
Ethereum's short-term resistance is also essentially in place, with initial resistance at 3260 and key support at 3300. If the second rally fails to break through this resistance zone, the market will also be viewed as bearish, currently in a phase of strong resistance. Support levels on the downside are sequentially around 3180, 3130, and 3080.
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1.6 Afternoon Bitcoin and Ethereum Market Analysis and Trading Recommendations
Currently, a minor correction has occurred, with short-term intra-day resistance still focusing on the previous high of 94700. If this resistance level cannot be effectively broken, the market will remain in a downward trend, with the next support targets at 92600. If it breaks below this, further declines could target the 91500-90500 zone. If the price makes a second rally and breaks through the 94700 resistance, the upper resistance to watch is 96000-96500.
Ethereum's short-term resistance is also essentially in place, with initial resistance at 3260 and key support at 3300. If the second rally fails to break through this resistance zone, the market will also be viewed as bearish, currently in a phase of strong resistance. Support levels on the downside are sequentially around 3180, 3130, and 3080.