7.28 Afternoon Bitcoin and Ethereum Market Analysis

In the afternoon, the price action continued the weak repair pattern after the sharp sell-off earlier in the day. After the BTC pair briefly found a pause at 63,021, it rebounded slightly to around 63,500, but the rebound lacked strength, and the overall market is still consolidating and ranging in the 63,000–63,500 band. As for ETH, it is currently also fluctuating in the 1,870–1,890 range, showing the same weak repair structure. Chasing consecutive take-profit wins can create an illusion of invincibility; however, this arrogance is the prelude to the next pullback, because the market always has a way to shatter inflated confidence.

At present, the 1-hour structure for BTC is a typical reduced-volume repair pattern, suggesting that while there is support around the 63,000 area, the force is not strong enough. The 63,000 level is the core focus of short-term bull-bear sparring. If BTC breaks below 63,000 on increased volume, it will likely draw attention to the 62,000–63,000 range. And this area is also a key zone where earlier bull support rebounded. Once it is breached by the bears, a large-cycle double-top structure will initially start to take shape. The current rebound repair is not finished yet—wait until the resistance pressure in the 63,500–64,000 range is confirmed, and then take a light position to do the short. For ETH, the upside focus remains unchanged at 1,890–1,900, and the downside breakout point is at 1,860. $BTC #Bitmine持有578万枚ETH $ETH