BTC market analysis
Bitcoin continued its upward trend yesterday, with a price increase of more than 2,000 points, reaching a high of $55,531, and the overall market continued to pick up. As of today, the market opened sharply, and the price broke the suppression of yesterday and went out of a slight upward pull. The current trend is in the area above $56,000. The bullish sentiment is heating up, and the price may rise further in the day.
From the daily chart, the current price is also running above the five-day and ten-day moving averages. Although the intraday gains are not strong, the upward trend is more obvious. In operation, it is not recommended to blindly chase the rise, beware of the market pressure and pull back the support below. Short-term support should focus on $55,600-$55,000 in turn, and follow-up should focus on $57,200 suppression. If the market can successfully break through it, the price is expected to move towards $58,000.
Ethereum market analysis
Ethereum rose yesterday and touched near the $1,720 position. The subsequent price fell under pressure and the market entered a high level consolidation. At present, the bulls continue to heat up, and the price has broken through yesterday’s suppression, and the intraday market continues to rise as expected.
Looking at the short-term hourly chart, the market remains volatile and upward, and the price has bottomed at $1,700. Although the current price has broken through yesterday’s suppression, the follow-up upward momentum is not strong, so it is not recommended to blindly chase the rise in operation, but should be grasped in time. Short-term gains. The support level focuses on $1,700-$1,680, and the resistance level focuses on $1,740.
DISCLAIMER: The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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