7.16 Morning Bitcoin and Ethereum Market Analysis

After the previous day’s price stabilized around 64,400, it saw a rebound in the evening. Although the move was limited, it still broke above the previous high to reach a new high at 65,589. Then it was quickly countered by the bears, pushed back below 65,000, and in the early morning continued the pullback and made a corrective recovery, showing a downward consolidation trend. ETH’s pullback has been relatively weaker; it is still in the area above 1,900. We should always leave room for buffers, and we also need to learn patience to wait for the right timing that suits us.

Right now, BTC’s daily chart is still running in the middle region of the Bollinger Band’s midline, and it is gradually moving closer to the upper band, indicating that the overall trend is still intact, but has slowed down somewhat. In the current 4-hour BTC chart, BTC’s momentum is still being released, but the KDJ pullback and recovery weaken it. Therefore, in the short term, we need to further confirm the support level where it stabilizes. Yesterday’s stabilization formed around 64,400, so today we should again first look at support in the 64,400–64,000 range. If it holds, we will continue to watch for a bullish move toward the 66,000 level. For ETH, watch the pullback around 1,900 with a target of 1,950.
$BTC #BTC反弹触及65000美元 $ETH