Haibei Analysis says: July 5 evening weekly dimension BTC/ETH market analysis



The overall downward trend on the weekly timeframe still dominates. MA5, MA10, and MA20 are arranged downward in sequence, forming a layered resistance structure from top to bottom. After a significant decline earlier, the price has recently been consolidating at a low level. The weekly volume has contracted compared to the previous sharp drop phase, and no signal for a medium-to-long-term bullish reversal has appeared yet. The pace of weekly layout needs to be extended. Near the upper weekly moving average resistance zone, prioritize arranging medium-term short positions. Long positions at lows are only suitable for light positions to play for weekly rebound swings, not for heavy long-term holdings.

The historical highs of this weekly cycle are ETH 4956.31 and BTC 126173.6, while the recent weekly stage lows are ETH 1504.11 and BTC 57770.0. The current price is running below the MA5, with MA10 and MA20 forming two very strong medium-term resistances above. Only by steadily holding above both moving averages can the weekly trend have the possibility of turning stronger. Once the recent low support is lost, there will be room for a new round of downward expansion in the medium-to-long term.

ETH Weekly Key Zones
Support: 1504, 1402; Resistance: 1691, 1938

BTC Weekly Key Zones
Support: 57770, 55758; Resistance: 62901, 70330

ETH
1. Enter medium-term short positions under pressure in the 1680-1691 range, stop loss above 1945; first take-profit 1504, second take-profit 1402
2. Enter long positions for weekly rebound when the price stabilizes in the 1504-1515 range, stop loss below 1470; first take-profit 1691, second take-profit 1938

BTC
1. Enter medium-term short positions under pressure in the 62800-62901 range, stop loss above 70400; first take-profit 57770, second take-profit 55758
2. Enter long positions for weekly rebound when the price stabilizes in the 57770-57900 range, stop loss below 56800; first take-profit 62901, second take-profit 70330

‼️ The above content is only for technical analysis reference and does not constitute any investment advice. Virtual currency trading is highly volatile and extremely risky. Please manage your positions and trade cautiously. $ETH
ETH-1.24%
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