【2024.7.22 BTCETH Intraday Market Analysis】

Good afternoon, brothers. A wonderful week has begun, and it should be an exciting week. Everyone should be mentally prepared. Last night, Biden's withdrawal from the election caused the market to pull back briefly and then quickly rebound. This morning, the weekly chart formed a large bullish candle, indicating that the weekly pullback has completed and the upward trend has started. Be happy!

This week, it is highly probable that the ETH ETF will be approved on the 23rd. After approval, be cautious of a pullback in the coin price, you can refer to the trend of BTC after its ETF approval. Secondly, on the 27th, there will be a big event for BTC, where Trump will give a speech. Remember that he is a businessman. When he was running for election, he definitely said things that sounded good. At that time, pay attention to the content of his speech when he takes the stage. If there is Favourable Information, it will also pump a bit!

This week's weekly chart has a big bullish candlestick. As mentioned last week, once the weekly chart breaks above 6.38, the uptrend begins. This week, the weekly chart has entered the long side, indicating that the weekly pullback has ended. The suggestion for the next step is to focus on long positions during the pullback.
BTC weekly resistance level: 69880-72250 support level: 65000-60780
ETH weekly resistance level: 3600-3766 support level: 3390-3240

Intraday Market Analysis:
BTC broke through the second support level in the early morning and pulled up near the second resistance level in the morning. Currently, it is oscillating downwards on the 4-hour chart, and pulling back on the 1-hour chart. Pay attention to the support level of 67233 during the pullback. As long as it does not fall below this level, the 1-hour chart will still go up sideways above this price after sideways. If it falls below the level of 67233, the 4-hour chart will start pulling back. Pay attention to the support levels around 66450-65766 below!
If you want to continue pumping after Sideways today, the 1-hour level must be above 67900. Only by standing above this level can the pump have strength. Pay attention to the targets/resistance levels around 68500-69150-69880!

ETH broke through the second support level in the early morning and pulled up to near the second resistance level. After a 4-hour rise and fall, it returned to the previous Sideways range. Currently, on the 1-hour timeframe, it is in a pullback. Pay attention to the support level of 3500 below. As long as this level is not broken, the price will still move sideways above this level on the 1-hour timeframe. If it falls below the 3500 level, the 4-hour timeframe will start a pullback, and pay attention to the support level near 3480-3448 below!
If you want to continue to pump after Sideways today, you must stand above 3520 on the hourly level. Only by standing above this position can the pump have strength. Pay attention to the nearby targets/resistance level around 3562-3600 above this position!