7.29 Morning BTC/ETH Market Analysis — Shiyuan’s View

BTC has continued to fall from the high point of 66,924. After hitting a low of 62,660, it then saw a low-level rebound to repair.

In the short term, this is a technical rebound after a big drop. There is a large amount of trapped-supply overhead pressure, so the rebound room is limited. Do not blindly chase longs. Under a choppy-ranging pattern, wait patiently to operate around key zones.

BTC
Resistance: 64,300, 64,800
Support: 63,300, 62,600

Recommendations:
Set short orders in the rebound 64,300–64,800 range, defend at 65,200. First target 63,300; if it breaks down, look lower to 62,600.
If it pulls back to 63,300 and stabilizes, you may try a short-term long with a light position. Target around 64,300. Enter and exit quickly.

ETH’s movement is highly correlated with BTC. After surging to the 1,982 high, it dropped sharply. After probing the bottom, it began a rebound and repair.

In the short term, rebound momentum is gradually weakening. Overhead resistance is clear, and the persistence of the bulls needs to be tested. Follow BTC’s pace to run the trade.

ETH
Resistance: 1,935, 1,960
Support: 1,880, 1,850

Recommendations:
Set short orders in the rebound 1,935–1,960 range, defend at 1,982. First target 1,880; continue lower to 1,850.
If it pulls back to the 1,880 support and stabilizes, you can try a short-term long with a light position. Upside target is around 1,935; it’s not advisable to hold long-term. $BTC $ETH