Crypto Market Volatility: BTC Falls Below 62,600, ETH Weakly Recedes, Altcoins Follow the TrendOn Monday, BTC exhibited a rollercoaster ride, reaching a high of 64,478 and falling back to 62,128, with a fluctuation range of 2,350 points. Meanwhile, ETH showed relative weakness, with two days of rebound only offsetting one day of decline, and the previous six-day decline took four days to bounce back by about half
Crypto Market Volatility: BTC Falls Below 62,600, ETH Weakly Recedes, Altcoins Follow the Trend
On Monday, BTC exhibited a rollercoaster ride, reaching a high of 64,478 and falling back to 62,128, with a fluctuation range of 2,350 points. Meanwhile, ETH showed relative weakness, with two days of rebound only offsetting one day of decline, and the previous six-day decline took four days to bounce back by about half.
BTC: Focus on the 60,000 Level Today
Yesterday, BTC saw repeated tug-of-war within the day, rebounding to a new intraday high after retracing to the support level near 62,600, followed by a decline back to around 62,000 during the early hours. Currently, BTC is showing a large negative candle on the four-hour chart, breaking below the 62,600 level. The key for the next move lies in whether it can break through the 60,000 level. On the four-hour chart, we can focus on the support level around 61,600. If it does not break below this level, it is expected to see a tug-of-war rebound, with limited short-term decline. On the daily chart, we need to pay attention to the resistance level near 63,000.
ETH: Weak Rebound, Focus on Support at 2380-2420 Range
On the four-hour chart of ETH, it saw a pin bar retracement to today's 2,400 point, and the daily chart clearly shows weakness. The four-hour chart also indicates a strong bearish trend, with a high of 120 USD decline yesterday. Today's intraday focus is on the resistance level around 2,450, while the support level is near the 2380-2420 range. Breaking below this range, we need to pay attention to the support level around 2,360. The strong support level on the four-hour chart is at the 2280-2320 range.
Altcoins: Following the Market Trend, Exercise Caution
Overall, altcoins are following the market trend, with some individual coins showing independent movements. For coins that have rallied, it is advisable to maintain vigilance, avoid chasing the high, and even if entering the market, keep a small position and cut profits promptly, avoiding greed.
Summary
The current market as a whole is in a consolidation phase. BTC has broken below the 62,600 level, and whether it can break through the 60,000 level will be crucial for its future direction. ETH is showing weakness, and the support level at the 2380-2420 range is a focus. Altcoins are following the market trend, and caution is advised.
Disclaimer: This article is for informational purposes only and does not constitute any investment advice. Investment involves risks, and you should proceed with caution.
Related Content:
- [BTC Price Analysis](https://www.example.com/btc-analysis)
- [ETH Price Analysis](https://www.example.com/eth-analysis)
- [Altcoins Price Analysis](https://www.example.com/altcoins-analysis)
Keywords: BTC, ETH, Altcoins, Price Analysis, Technical Indicators, Market Analysis, Risk Warning
Word Count: 2052
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