7.16 BTC/ETH market analysis Poem Yuan view

On July 15, there was a sharp rally that touched 65,590, followed by a pullback and consolidation. Currently around 64,773, short-term bullish momentum has clearly weakened, and a volume-shrinking pullback has appeared at the highs.

Key levels to watch:
Upward resistance: the 65,000-65,600 range. This area is the rebound high of this cycle—if it doesn’t break, it indicates consolidation to build up strength.
Downward support: 64,000 is the near-term bullish/bearish line in the sand. If it breaks, then the market will need to look at structural support around 63,000.

ETH is stronger. On July 15 it surged to 1,947, and it’s currently around 1,922. The pullback is smaller than BTC’s, showing that bulls are more aggressive on ETH.

Key levels:
Upward resistance: 1,940-1,950. Only a breakout above 1,950 can open up room.
Downward support: 1,880-1,900 is the near-term bullish/bearish line. As long as it holds, the bullish structure remains unchanged.

The premium of ETH relative to BTC is widening. If BTC doesn’t experience a major pullback, the probability of ETH breaking above 1,950 is higher.

Recommendations:
BTC
Current: 64,773, ranging in a high-level consolidation area.
Enter on a pullback to around 64,000 and stabilization, or after a breakout above 65,000 with a retest confirmation.
Stop loss: 63,400 (breaks below 64,000 support to confirm stop)
Targets: 65,600 / 67,000

ETH
Current: 1,922, relatively strong.
Enter on a pullback into the 1,890-1,900 area, or after a breakout above 1,950 with a retest confirmation.
Stop loss: 1,860 (breaks below 1,880 support to confirm stop)
Targets: 1,950 / 2,000$BTC $ETH