Crypto Market Volatility Intensifies: Short-Term Analysis of Bitcoin and Ethereum!Yesterday, Bitcoin (BTC) reached a low of $58,728 and a high of $61,793, with a fluctuation of $3,065, representing a 5.2% swing
Crypto Market Volatility Intensifies: Short-Term Analysis of Bitcoin and Ethereum!
Yesterday, Bitcoin (BTC) reached a low of $58,728 and a high of $61,793, with a fluctuation of $3,065, representing a 5.2% swing. Ethereum (ETH) fluctuated between $2,533 and $2,663, registering a fluctuation of $130, a 5.1% swing.
Today, Bitcoin is currently trading around $60,800. In the short term, it touched the resistance level of around $62,000 and pulled back slightly, but subsequently rebounded, indicating strong upward momentum. If Bitcoin can hold above $62,500, it will demonstrate a break above the resistance level, and chasing the rally could be considered. Bitcoin's short-term resistance level is situated at $62,100, while its short-term support sits at $60,000.
Ethereum is currently trading near $2,630, exhibiting relatively stable movement within the box pattern. It is anticipated to reach the resistance level in the next one or two days. If it breaks through effectively, a rise to around $3,000 could be anticipated. However, if the upward momentum weakens, it could potentially plummet directly to $2,300, with potentially significant fluctuations. Caution is advised due to the risk involved. Ethereum's short-term resistance is positioned at $2,700, while its short-term support is at $2,550.
The market has been accumulating strength for half a month, and significant fluctuations are anticipated in the next two days. Major cryptocurrencies could experience swings exceeding 10%. Therefore, it is strongly recommended that investors set appropriate stop-loss orders to mitigate potential losses arising from inaccurate directional judgments.
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