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‼July 16th [BTC Market Analysis] Last night, the US stock market surged and then fell, leading to a weakening of BTC. After a whole day yesterday, #BTC和 ETH currently shows divergence, with BTC adjusting after a high, and ETH rebounding to recently create a new high. ETH may have favourable information to be announced, continue to follow. If the market maintains a strong structure, it may launch a second attack to impact the pullback position, with a support level at 114500 (with a fluctuation of 1000). Once it holds above this position, it will attack the high point again. Current key support level: • Around 114500 (the 12-hour trendline support cannot be broken) If this level cannot be held, there may be a technical adjustment in the short-term, it is recommended to appropriately reduce position and take profit within this range. Current core range reference: • Lower support: around 109000 • Upper pressure: around 122300.
If today's daytime trading maintains a low-volume consolidation, the possibility of a further rally in the evening cannot be ruled out. Follow whether the bulls can continue to increase volume and hold above the 112000 level.