7.27 Monday midday Bitcoin and Ethereum latest market outlook

After the big BTC broke through the 64,600 level last night, it pulled back in the early morning to confirm that support was effective. It then kicked off a rebound; in the morning it surged to around 65,555. It was only one step away from the key overhead resistance at 65,700, before falling back again to around 64,800 where it found support. It is still in an uptrend structure. The pullback has confirmed the support is effective, and then a rebound starts again—this is the standard breakout—pullback—then re-attack structure.

As long as BTC’s pullback does not fall below the 64,600 support level beneath, BTC will not expand the downside. If BTC breaks and closes below the 64,600 support effectively, then you can follow through with a sell setup. The downside target is to look back at the 63,700 support level. Before that, it’s still best to prioritize a long-side bounce.

If BTC can stand firm above the 65,700 resistance, it will continue to test the previous high at 66,924, and a new round of upward market may be able to start. If it fails to break through 65,700 resistance, and if it does not break below the 64,600 support, then during the daytime it will maintain range-bound sideways consolidation and adjustment, and watch whether a bigger move emerges when US stock market opens in the evening.

ETH also made a new high to 1,966 before dipping slightly. It still remains in a high-level consolidation and has not begun a large, deep correction. Going forward, if ETH can stay above the prior high of 1,958 and not fall, there is hope to see ETH at 2,000. Also keep an eye on the support at 1,909 below ETH.
BTC: around 65,000–64,600, entry? target 65,700 → 66,924
ETH: around 1,927, entry? target 1,980 → 2,000
#直通IPO第二期JerseyMikes $BTC ‌$ETH ‌