BTC and ETH face key suppression, can bulls continue in this move

July. 30,2021
BTC and ETH face key suppression, can bulls continue in this move

BTC: The daily trajectory continues to close and rises. Since breaking the 30,000 mark last week, the daily trajectory has continued to rise. The next day it broke again to near the 41,000 mark. The daily trajectory has been strong for eight consecutive days, and the market seems to be due to this round of rebound. Recovery; From the daily point of view, the 41000 mark resistance is the key resistance level above the daily level after the adjustment in the past two months, and it is also the key watershed for determining whether the bulls can strengthen in the second half of the year. The bulls rebounded twice in May and June to test this After the position was blocked, it fell back, and the next day also rebounded and touched the nearby fall, but the daily line still continued to close; combined with the previous test, it can be proved that there is still resistance at this position, and the daily line must stabilize 41000 if it wants to continue to open the upper space. Next, focus on testing the resistance level of this round of rebound, and continue to be bullish if it stabilizes effectively.


In the short-term, the next day's highest rebound of 40888 followed by a high adjustment. The hourly short-term lows continue to rise, forming a good upward trend line, and the highs are also moving down after the peak highs. The short-term constructs a triangular oscillating trend structure. , But the overall trend is still rising, so I personally think that the probability of an overall breakthrough is still high, but at the same time, we need to pay attention to the correction and repair after the shock; the hourly line is still volatile, and the short-term pressure is above the 40200 mark. If the price breaks through and stabilizes At this position, it is expected to continue to rise in the short-term, support 39400 below, and step back on this position to do more in the day, with a target of 41000.


Support level: 39400 Resistance level: 41000


ETH: Compared with the big pie, the short-term rise of Ethereum seems to be a bit weak, especially after the sharp correction of 2430 on Tuesday, although the overall daily rebound was still recorded, the price did not break high, and it was directly on the next day. The 2300 mark started to oscillate and adjust, but the hourly price is still rising. For the bulls, it is still suppressed by the concentrated resistance above. If the short-term price cannot effectively break through, there is a risk of callback. If it can break through and stabilize the short-term, it will continue to impact the test 2400 As a daily line, 2400 is still a staged watershed of resistance. The last fall was a rebound. After 2400 was under pressure, it rose and fell. After the test this week, a sharp correction was formed again. The importance is obvious, so the next step is to focus on 2400.


In the short-term, the high volatility on the next day, long and short, repeated washing, the cycle of big Yin and big yang alternates. The hourly line began to oscillate upward after it surpassed 2431 and retracement near 2150 on Tuesday, and formed an upward trend structure. At present, the main pressure above the short-term is 2310-2330 , After rushing to 2345 overnight, it fell back, and then rebounded several times. 2330 is under pressure. At present, the suppression of upper resistance is relatively concentrated, which has also caused the bulls to be a little weak, and the lower is concerned about the 2250 support. If the price falls below this position in the short-term, it is expected to cause a callback on the daily line. If the top breaks through to stabilize at 2330, the short-term rebound is expected to continue. For daily operations, it is recommended to do more at 2250.


Support level: 2250 Resistance level: 2330-2350