7.12 Intra-day Bitcoin and Ethereum Market Analysis

Sorry, friends—I've been pretty busy lately due to many matters, so I may not be able to update my thoughts frequently. Since the “big cake” rose to around 64,700 on Friday night, these days haven’t brought any new breakout. It has basically been consolidating with reduced volume in the 63,500–64,500 range. However, “Auntie” (ETH) has shown a rebound-and-rally trend over the past few days, but it still hasn’t broken through the prior high of 1,833, and this morning it quickly slipped back to around 1,800. Now the situation between the US and Iran is tense again, which has put some pressure on the price. But the ETF’s consecutive net outflows have ended, and the return of funds has improved sentiment in the mid-term. So we’ll see how this affects the next move.

Actually, for the later BTC price to push higher, the 65,000–67,000 area is relatively key. This is also the crucial zone where the price previously faced pressure and then turned into a sell-off and rise. Currently, the MACD fast and slow lines are tending to stick together, while the “bull” momentum is continuously weakening. The KDJ is hovering near the middle area, so the short-term direction isn’t very clear. For now, I still expect the “bull” trend. For the big cake, support below is 63,000–63,500. If it shows a bottoming-out signal and stabilizes, you could consider light positioning and catching the “bull” trend. The initial target is the 64,500–64,800 range. If later it can break above 65,000 and hold, then for a swing trade you can look toward the 67,000 level. For ETH, pay attention to support around 1,750, and the upside target is tentatively the 1,850 resistance level.

Also, the typhoon named “Bavi” has already landed on the mainland—friends who may be affected, please pay attention to travel safety! $ETH #美伊战争阴云再起 $BTC