On July 28, Bitcoin and Ethereum surged again, can they break new highs? Below is the market analysis and trend outlook for Bitcoin and Ethereum.

CN
14 hours ago

The fluctuations in the cryptocurrency market are like the waves in a turbulent sea, making people feel anxious. However, its charm lies in the fact that it never looks at your past report card. Stop saying "I'll enter the market when it stabilizes"; opportunities in the crypto world never exist in "stability." The real dividends always belong to those who dare to position themselves amid uncertainty. Market volatility is not a risk; not understanding the trend is the biggest risk.

As of this morning, Bitcoin and Ethereum have shown slight fluctuations after breaking through recent highs last night. Currently, the market seems to be in a balanced state of technical repair and macroeconomic game. Looking back at yesterday, Bitcoin attempted to break through the resistance level of 119,500 in the morning but failed to hold effectively, showing a "false breakout" characteristic. The current price fluctuates between 118,500 and 119,500.
From a technical indicator perspective, the 4-hour moving averages are in a bullish arrangement, with the MACD showing a golden cross and increasing volume. Short-term support has moved up to 118,800; if this level holds, there is still momentum to challenge 120,000 within the day. On the daily level: the upper pressure level of the Bollinger Bands has moved down to 119,850. If it cannot break through, it may face retracement pressure; strong support is located in the 117,800-118,000 area, and a drop below this could lead to a retest of 116,500. From a long-term perspective, the bullish tone remains unchanged, with the weekly EMA7 and EMA30 maintaining an expanding opening, indicating a strong long-term trend. Attention should be paid to the breakout situation at the previous high of 121,000 USD.

Long position suggestion: Accumulate in batches in the 118,500-118,800 area on a pullback, with a stop loss set at 118,000, targeting 119,600-120,000, and if broken, hold until 120,800.
Short position suggestion: If the price rebounds to the resistance area of 119,800-120,500 and faces pressure, consider a light short position, with a stop loss at 121,000, targeting 118,500-117,500.

Ethereum's price has broken through the historical resistance level of 3,800, reaching a high of around 3,900, but the daily MACD shows a bearish divergence, and the RSI has entered the overbought zone, indicating short-term retracement pressure.
Currently, Ethereum needs to pay attention to the support level in the 3,750-3,800 area and the resistance level in the 3,900-3,950 area. If the price breaks below the support level, it may retest 3,700; if it can break through the resistance level, it is expected to challenge the 4,000 point.
Long position suggestion: Enter in batches on a pullback to the 3,750-3,800 support area, with a stop loss at 3,700, targeting 3,850-3,900, and if broken, look for 3,950.
Short position suggestion: If the price encounters resistance and falls back in the 3,850-3,900 range, consider a short position, with a stop loss at 3,930, targeting 3,800-3,770.

Due to the time-sensitive nature of price levels, there may be delays in post reviews. Specific operations should be based on real-time market conditions. The above operational range analysis is for reference only; the cryptocurrency market is highly risky, so please make cautious decisions when investing. If you are interested in specific indicator analysis or the impact of new market dynamics on prices, feel free to scan the QR code for the public account in the article below. You are welcome to visit.

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