Circle of Coins Li Ying: 7.11 Bitcoin (BTC) and Ethereum (ETH) Latest Market Analysis

Bitcoin's current price is 64000, and this pullback feels more like a gas station on the way up. As long as it does not break key support, there is a high probability it will continue to rise. In trading, we need to find opportunities within the trend. The indicator technical moving average system EMA shows a bullish arrangement, with short-term moving averages above long-term moving averages, indicating a bullish mid-term trend. In the MACD indicator, the DIF crosses above the DEA, and the red bars continue to enlarge, showing ample momentum, which is a typical bullish signal. The Bollinger Bands show prices running above the middle track of 63325, the upper track of 64807 forms resistance, and the lower track of 61844 represents strong support. The current price is close to the upper track; if it breaks through, new upward space will open; if it encounters resistance and falls back, the middle track will be an important defensive position.

Short-term thinking reference:

Trade at 63500-63000, stop-loss at 62500, target 64500 aiming for 65000

Trade at 64500-65000, stop-loss at 65500, target 63500 aiming for 63000

Ethereum

Family members, Ethereum was at 1790 before publication, rising from 1510 all the way up, although it dropped slightly in between, the overall trend is still upwards. The current price is oscillating above several moving averages, indicating that bulls have not given up. However, the high point of 1833 above is a hurdle; if it cannot surpass it, it is likely to retrace. From a technical perspective, the EMA shows a bullish arrangement, and the MACD indicator still has momentum. The Bollinger Bands have started to flatten after narrowing, with the middle track located around 1760, which is a very strong defensive position. As long as the price remains above the middle track, the overall structure is intact; the current pullback seems more like a buildup for the continuation of the rise.

Short-term reference points:

Trade at 1750, defense at 1700, stop-loss at 1650, target 1800 aiming for 1850

Trade at 1840, defense at 1860, stop-loss at 1900, target 1780 aiming for 1730

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