7.7 Evening Bitcoin and Ethereum Market Analysis

This pullback saw a long lower-shadow bullish candle around 62745, then stabilized near 63000, while Ethereum basically fluctuated around 1770. The idea we gave this morning is basically on point: Bitcoin looks for support around 63000, and Ethereum looks for support in the 1780-1760 range. Right now, the upside side has a slight advantage on the short-term chart, but the rebound strength is insufficient to break through the pressure zone at the higher levels. Some people always want to catch every leg of the rally, fearing missing out on any opportunity—chasing the price higher, adding positions, and easily changing direction—only to end up stepping into traps again and again.

At present, on Bitcoin’s 1-hour timeframe, the price is nearing the resistance zone of 63800-64000, and the momentum is gradually shrinking; the MACD has also shown signs of forming a golden cross. However, it’s important to note that if a rebound occurs with no meaningful volume in the short term, then the risk-reward ratio for chasing higher prices is no longer attractive, and the risk of intraday pullbacks will continue to accumulate. So we’ll need to see whether the evening U.S. stock market open can provide a chance for a second volume-driven push higher for Bitcoin. Without increased volume breaking the previous high, it will be difficult to see 65000. Bitcoin’s next support is around 62500; if it breaks, it may likely head toward the 62000 area. As for Ethereum, it should still focus on the 1750 area. $BTC #GUSD年化升至3.8%