Master Chat Hot Topics:
Yesterday, the total trading volume of the first Ethereum ETF trading day was approximately $1 billion, which is 23% of the trading volume on the first day of the spot Bitcoin ETF. This data is slightly lower than the previous expectation of 25% to 30%.
As of now, the trading volume of the Ethereum spot ETF on the second day has reached $950 million.
The most anticipated event of this week is the upcoming Bitcoin conference, where the famous spherical building in Las Vegas has already been adorned with the Bitcoin logo, attracting significant attention from the entire cryptocurrency community.
Additionally, many people are looking forward to a remarkable speech from Trump. A large number of media outlets and BTC believers in the United States are experiencing FOMO for this conference, so we can focus on this.
Master's Trend Analysis:
BTC 1-hour:
Currently, Bitcoin is in a sustained downtrend, and as mentioned in the previous articles and mid- to long-term analysis, a medium-term pullback is expected before a major retest of 70K.
As the U.S. stock market declines due to disappointing performances of some major tech companies' stocks, there has been a significant sell-off in the tech sector, leading to a market downturn.
At this point in time, if Bitcoin fails to consolidate at the bottom and shows weak rebounding, attention should be paid to the risk of further decline, and trading should be approached with caution.
Resistance Level Reference:
First Resistance Level: $64,300
Second Resistance Level: $65,000
If the coin price breaks through the short-term resistance level of 64.3K, the upward trend will strengthen. The current candlestick has formed a lower shadow, indicating an expected short-term technical rebound.
If the rebound is weak and accompanied by low trading volume, the probability of further decline will increase.
Support Level Reference:
First Support Level: $63,500
Second Support Level: $62,800
In the short term, 63.5K can be considered an important support level. If there is another adjustment to the first support level, the downward trend will continue to increase.
Today's Trading Suggestions:
In today's trading, due to the significant decline in the coin price followed by the formation of a lower shadow, it can be inferred that a small-scale bottom has been reached, maintaining a short-term bullish view.
As there may be a period of sideways consolidation in the short term after the decline, it is advisable to observe the small-scale trend before entering the market.
7.25 Master's Short-term Pending Orders:
Long Entry Reference: $62,400-$62,800 range, phased long entry, 500-point defense, target $63,500-$64,300
Short Entry Reference: $65,000-$65,400 range, phased short entry, 500-point defense, target $64,300-$63,500
This article is exclusively planned and published by Master Chen (WeChat public account: Coin God Master Chen). If you want to learn more about real-time investment strategies, untangling, spot contract trading techniques, operational skills, and candlestick knowledge, you can add Master Chen for learning and communication. Hopefully, it can help you find what you want in the cryptocurrency world. Focusing on BTC, ETH, and altcoin spot contracts for many years, there is no 100% method, only 100% going with the trend; daily updates on macro analysis articles across the web, mainstream coin and altcoin technical indicator analysis, and spot mid- to long-term replay price prediction videos.
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