Zhou Yanling: 7.2 Bitcoin BTC Ethereum ETH Today's Latest Market Trend Analysis

Hello everyone, I'm back! After spending about ten days in Xinjiang, my impression of Xinjiang can be summed up in two words: big! Beautiful! Walking through Xinjiang, I truly understand the weight of the six characters "the great mountains and rivers of the motherland." Traveling the mountains and rivers, what I see is not just the scenery, but also the stability, harmony, and unending vitality of the Huaxia land. Born in this country, witnessing this magnificent scenery, I feel a deep sense of pride and emotion. In a high-pressure work environment for a long time, it's really necessary to go out and take a walk; otherwise, being too tense for too long will make you forget what it feels like to relax. Scenery does not heal problems, but it allows people to view life from a different mindset.

Returning to the main topic, I just reviewed the recent market trends, and during my absence, the price of cryptocurrencies has dropped to a new low again. This market seems endless. Without overthinking, let's focus on the downtrend with the 50,000-level as the bottom line. From a macro perspective, the price of cryptocurrencies shouldn’t keep falling; instead, it should build momentum to rise. However, in the short to medium term, we need to go with the flow and capture this wave of short sellers first. Currently, the price is hovering around 60,000, and the medium to long-term bearish structure is intact, with deep overselling only indicating short-term selling exhaustion, not the end of the downtrend. The bullish power on the 4-hour chart is extremely weak; if the lower end of the consolidation range breaks, the downward space will open up again. The weak rebound on the 1-hour chart lacks accompanying trading volume, showing very poor sustainability, and touching the upper resistance easily leads to a quick fallback. The current strategy focuses primarily on short positions, with not much else to consider. For today's intraday short positions, watch the resistance levels at 60,800 and 62,000, and the support around 57,000.

Zhou Yanling 7.2 Bitcoin:

1. Short from 60,800-60,000, leave room for reload around 62,000, stop loss 800 points, target 58,800-58,000, continue to look for a decline around 57,000.

2. Long from 58,000-58,800, stop loss below 57,000, target 60,000-60,800.

Zhou Yanling 7.2 Ethereum:

1. Short from 1,660-1,630, stop loss above 1,690, target 1,570-1,540.

2. Long from 1,540-1,570, stop loss below 1,500, target 1,630-1,660.

[The above market analysis is for casual reference only and does not constitute investment advice!]

This content is exclusively shared by senior analyst Zhou Yanling (Public Account: Zhou Yanling 8). The author has over ten years of experience in investment research in the financial market and mainly analyzes and guides operations in BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot. With a solid theoretical foundation and practical experience, the author excels in combining technical and news-based operations, pays attention to capital management and risk control, and is recognized by many investment friends for a steady and decisive trading style, marked by an easygoing and responsible personality with sharp and decisive operations.

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