Bitcoin Short-Term Squeeze, ETH About to Explode? Today's Market AnalysisYesterday, Bitcoin (BTC) reached a low of $62,320 and a high of $64,126, with a fluctuation of $1,806 and a volatility of 2.9%
Bitcoin Short-Term Squeeze, ETH About to Explode? Today's Market Analysis
Yesterday, Bitcoin (BTC) reached a low of $62,320 and a high of $64,126, with a fluctuation of $1,806 and a volatility of 2.9%. Ethereum (ETH) reached a low of $2,436 and a high of $2,572, with a fluctuation of $136 and a volatility of 5.6%.
Today, Bitcoin is currently hovering around $63,000, entering a short-term squeeze. A significant fluctuation is expected in the next two days. If it breaks below $62,000, it will signify the end of this upward trend. Conversely, if it breaks above $64,000, the target of $70,000 will be within reach.
Bitcoin's short-term resistance level is at $63,850 and its short-term support level is at $62,520.
Ethereum is currently at $2,546, still above its support level. This is the first resistance level after the formation of a double bottom. Ethereum displayed strong upward momentum yesterday and could potentially perform well in the future.
Ethereum's short-term resistance level is at $2,575 and its short-term support level is at $2,520.
Overall, I predict that the market will continue to trend upwards. The current position is a good opportunity to buy the dip. If your position is small, you can enter the market appropriately, but remember not to go all-in. Additionally, when this rally reaches its peak and reverses, you should reduce your positions accordingly and avoid holding everything long-term.
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