Bitcoin, Ethereum, Today’s Market Analysis

1: #BTC Bitcoin surged to around 72,800 yesterday, hitting two highs without breaking through. It pulled back after approaching 73,000, which is also a significant resistance zone. Previously, a rally reached 76,000 before pulling back, breaking through 73,000 and starting a downtrend. Currently, on the daily chart, Bitcoin has retraced to around 70,500, which is a relatively normal correction zone. As long as it doesn’t fall below 70,500, the bulls still have a chance to continue the rebound toward 72,000. If the retracement breaks below 70,500 again, the next support could be around 69,500-69,000. This is a key defensive level for the bulls. Breaking below this rebound would essentially signal the end of the current upward move. So, everyone should be clear on what to do.
2: #ETH Ethereum also moved in tandem with Bitcoin yesterday, reaching around 2,270. It tested this level twice without breaking through and pulled back. This morning, it dipped to a low of 2,160. During yesterday’s live session, I advised to buy on the dip at 2,160 for the first position. Those who listened should know this. However, the intraday rebound to 2,200 couldn’t be sustained, so the long position couldn’t be held. It’s better to exit. But if Bitcoin can hold above 70,500 and not fall below, Ethereum also won’t drop below 2,150. If Bitcoin drops further, Ethereum could look toward 2,120-2,100.