6.30 7:00 PM BTC/ETH Market Analysis

After an intraday surge to a new short-term high, bullish momentum continues to weaken. On the 1-hour chart, the moving averages form a bearish arrangement, with MA5 crossing below MA10 and MA20 in a double death cross. The decline phase shows volume expansion, while small rebounds have shrinking volume. Bearish selling pressure continues to be released on the chart, maintaining a weak downward structure with a surge and pullback. The large-cycle rebound trend has come to a temporary halt. For evening trading, the main strategy is to short on rebounds at resistance levels, while small long positions at lows should only be taken lightly with quick in-and-out.

In the 1-hour cycle, the rebound highs are ETH 1636.85 and BTC 60765.5, while the starting support lows are ETH 1556.04 and BTC 58866. The current price is firmly running below all short-term moving averages, with MA10 and MA20 turning into strong resistance zones. The previous starting low below is a bull-bear dividing line; once broken, it will open deeper downside space.

ETH Key Levels
Support: 1576, 1556, Resistance: 1588, 1600

BTC Key Levels
Support: 59100, 58860, Resistance: 59500, 59850

ETH
1. Short position at 1586-1600 resistance, stop loss above 1640; first take profit at 1576, second at 1556
2. Small long at 1558-1565 pullback to bet on support rebound, do not hold overnight, exit directly upon reaching take profit

BTC
1. Short position at 59480-59850 resistance, stop loss above 60100; first take profit at 59100, second at 58860
2. Small long at 58880-59150 pullback, stop loss at 58700, first rebound target 59400, second target 59600

‼️The above content is only technical chart analysis reference and does not constitute any investment advice. Virtual currency trading has high volatility and extreme risk. Please control your positions and trade cautiously. $BTC