7.14 Early-morning Bitcoin and Ethereum market analysis

Recently, the relative pricing has been affected by the US-Iran conflict. It fell from around 64,000 to near 62,000. Along the way, the rebound strength was weak, so there was limited room for a pullback. The 63,000-63,500 support area we mentioned earlier did not end up forming effective support either; instead, it later turned into resistance. As for ETH, the downtrend is relatively weaker than BTC. It has basically been passively following the decline, but it has also dropped from the high around 1,848 to near 1,760.

From the current BTC 1-hour timeframe, all three Bollinger Bands are continuing to slope downward. The middle band and the upper band form a short-term resistance zone. The MACD dead cross below the zero axis continues. Although histogram momentum is still present, the growth trend has started to slow down, and KDJ is also still in a state of ongoing downward divergence. In the short term, histogram momentum has the upper hand. In the current environment, BTC’s overhead resistance levels are continuously moving lower. If the 62,000 level is completely broken, we can first look at 61,500-61,700. If histogram momentum again expands with increased volume, then we can further look toward the 61,000 area. For ETH, short-term attention should still be on 1,750 support; if it breaks, then look near 1,730. Be mindful that it may only be passively tracking, so the downside space is limited. #百万充值补贴 $BTC $ETH