Li Ying's Chat on Currency: Latest Market Analysis of Bitcoin (BTC) and Ethereum (ETH) at 7.29

Currently, Bitcoin is at 63900, making people feel anxious. Recently, this trend has been like a roller coaster, shooting up at one moment and dropping down at another. The EMA moving average system shows the short-term EMA7 around 63555 and the long-term EMA120 at 64545, with the price fluctuating in between, indicating a temporary balance of buying and selling forces. The MACD indicators DIF and DEA are showing signs of forming a golden cross below the zero line, which is a potential rebound signal. In terms of Bollinger Bands, the price is running below the middle track at 64330, with support at the lower track at 62620 and pressure at the upper track at 66039. Overall, the market is in a weak consolidation phase, but the downward momentum is weakening.

Short-term thoughts for reference:

Buy around 63000-62500, stop loss at 62000, target at 64500 aiming for 65000.

Sell around 65000-65500, stop loss at 66000, target at 64500 aiming for 63500.

Ethereum

Currently, Ethereum is priced at 1917, and the overall direction remains upward. The current decline seems more like a pause after a considerable rise, which we call a healthy correction. The EMA120 is steadily supporting below, as long as the price does not effectively break below this lifeline, the bullish trend is not broken. The current fluctuations are actually digesting previous profits and gathering strength. It is currently at a critical point in the tug-of-war between buyers and sellers. The Bollinger Bands' middle track is also forming short-term pressure around 1920, with the price trapped in between. The MACD is likely to form a low-position golden cross, which is a strong reversal signal. The current declining volume correction is precisely restoring the overbought technical indicators, making room for subsequent increases.

Short-term reference points:

Buy around 1880, defend at 1830, stop loss at 1800, target at 1960 aiming for 2000.

Sell around 1980, defend at 2010, stop loss at 2040, target at 1920 aiming for 1890.

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