Currently, from the perspective of the weekly chart, Bitcoin has shown strong momentum with two consecutive positive closes. The resistance at the weekly level is around 64,000. Once it stabilizes above 64,000, Bitcoin will continue to move towards the 66,000-67,000 level. Ethereum has already stabilized around the 2,500 level at the weekly level, and as long as it holds above this level, the market will eventually make a push towards the 2,700-2,800 level.
On the daily chart, with the positive news of the Fed's interest rate cut, Bitcoin has forcefully broken through the 63,000 level. As mentioned before, once the market breaks through the turning point of the bull and bear trend, it is expected to challenge the 65,000-67,000 level. The current resistance is seen around the previous high of 64,000-65,000, while support is seen around 62,500-63,000. As for Ethereum, the key level of 2,400 has been repeatedly mentioned as a crucial point for the bullish counterattack. If it breaks through, it is expected to challenge the 2,550-2,600 level. Today, Ethereum opened with a gap up, with current resistance at 2,680-2,720 and support at the 2,600 level.
Looking at the 4-hour chart, Bitcoin and Ethereum encountered resistance after another upward push, and it is expected that there will be further exploration of new resistance levels. It is still recommended to go long with the trend!
Trading strategy: Go long with the trend!
For Bitcoin, consider going long at 62,500-63,000, with a target of 64,000-65,000 and a stop loss below 62,000.
For Ethereum, consider going long at 2,600-2,620, with a target of 2,680-2,750 and a stop loss below 2,550.
The strategy is time-sensitive, and real-time guidance is the main focus!
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