6.25 BTC volume is shrinking as it grinds the bottom, testing the waters around 59000 like crazy, ETH at 1580 on the brink of life and death, is a trend change window about to open?
BTC is currently oscillating around 60000. It dipped to a low of 59260 and is now hovering around 59800. After a deep correction, it's entering a phase of low-volume consolidation, with volatility continuing to compress as bulls and bears are locked in a standoff.
Key resistance above is at 63000 (first resistance), if it breaks and holds, we are looking at 66000, with crucial support below at 59000 (short-term defense).
ETH's movement is clearly lagging behind BTC. After a surge to 1779 two days ago, it plummeted to 1600 with increased volume, and it is currently weakly consolidating around 1585 with very little rebound strength. The Ethereum Foundation has undergone restructuring, cutting about 54 people (20%), raising concerns about the efficiency of ecosystem advancement.
Key levels: resistance above at 1680 (short-term first hurdle), 1720-1760 (strong sell-off zone); support below at 1530-1570 (today's low region), 1500 (the last line of defense for bulls). Recent trading has not been ideal; consult btc0796 for discussion on the market.
Trading suggestions:
BTC go long at 59300-59800, targeting 62000 - 64000 with a stop at 58800.
ETH go long at 1540-1580, targeting 1700 - 1800 with a stop at 1500.
The opinions, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. The market is risky, and investors should exercise caution.
$BTC
$ETH
BTC is currently oscillating around 60000. It dipped to a low of 59260 and is now hovering around 59800. After a deep correction, it's entering a phase of low-volume consolidation, with volatility continuing to compress as bulls and bears are locked in a standoff.
Key resistance above is at 63000 (first resistance), if it breaks and holds, we are looking at 66000, with crucial support below at 59000 (short-term defense).
ETH's movement is clearly lagging behind BTC. After a surge to 1779 two days ago, it plummeted to 1600 with increased volume, and it is currently weakly consolidating around 1585 with very little rebound strength. The Ethereum Foundation has undergone restructuring, cutting about 54 people (20%), raising concerns about the efficiency of ecosystem advancement.
Key levels: resistance above at 1680 (short-term first hurdle), 1720-1760 (strong sell-off zone); support below at 1530-1570 (today's low region), 1500 (the last line of defense for bulls). Recent trading has not been ideal; consult btc0796 for discussion on the market.
Trading suggestions:
BTC go long at 59300-59800, targeting 62000 - 64000 with a stop at 58800.
ETH go long at 1540-1580, targeting 1700 - 1800 with a stop at 1500.
The opinions, conclusions, and suggestions in this article are for reference only and do not constitute investment advice. The market is risky, and investors should exercise caution.
$BTC
$ETH