BTC first looks back and then rebounds, pay attention to 2400 below ETH
The trend of these two days has basically met expectations. Let’s talk about Bitcoin first. It has become slightly stronger recently. While Ethereum has fluctuated violently, Bitcoin has not experienced a major correction, and the upward trend is still there. In my analysis the day before yesterday It has been given very clearly. The price at that time was at 33,500. Do more to let everyone see 34,500, and then pay attention to its upward strength. As a result, the market was very strong, and it broke directly. Bitcoin continued to rise. The previous decline was entirely due to policy. As a result of the impact, it caused a certain degree of panic in the market, and everyone sold it one after another, resulting in a sharp decline in prices. Although there has been a rebound, the impact of policies still exists, and everyone still needs to be cautious. The recent trend of Ethereum is also Without going beyond the author's analysis, I asked everyone to rely on the 2440 line. As long as the market does not break through this position and rebound, the trend of the day has also met expectations. Let's focus on the support of the 2400 position below.
On the surface of the news, many countries banned the virtual currency market before, which once led to a decline in currency prices. At present, the policy has begun to loosen. This is one of the reasons why the recent trend of Bitcoin is relatively strong. The Indian government’s stance on cryptocurrency may change. More moderately, according to The New Indian Express, the Indian government's hostile stance on Bitcoin is changing. The media quoted internal sources as saying that the Indian government has abandoned its earlier plan to ban Bitcoin comprehensively, and intends to classify cryptocurrencies as Alternative asset classes. In addition, the Securities and Exchange Board of India will also work with the Indian Ministry of Finance to jointly oversee the development of cryptocurrency regulations in the country. Inside sources also claimed that the Indian parliament will discuss a comprehensive crypto regulation bill in July this year, which is a positive signal for the market.
Banks holding bitcoin and other crypto assets will face the toughest capital requirements under plans by global regulators to fend off threats to financial stability from volatile markets. The Basel Committee on Banking Supervision says the banking sector faces heightened risks from crypto assets due to potential money laundering, reputational concerns, and sharp price swings that could lead to defaults.
The group proposes a risk weight of 1,250% for banks on bitcoin and certain other cryptocurrencies. In practice, based on the 8% minimum capital requirement, this means that banks may need to hold a dollar of capital for every dollar of value in bitcoin. Additionally, the committee proposes aligning the capital treatment of stablecoins with assets such as stocks and bonds. This information reveals that cryptocurrency is still a new type of asset, and the market is still cautious.
From a technical perspective, after Bitcoin started to rise the day before yesterday, the currency price reached above 38,000, and then showed a downward trend, but basically remained above the middle rail of the Bollinger Band at the daily line level, which is what we need to pay attention to today An important support level of 35700 line, before breaking this position, the author thinks that stepping back is an opportunity for us to place long orders, but it is worth noting that we still need to pay attention to market trends, no matter how good the technical direction is, it is not as good as a The news is true. We have a deep understanding of the previous trend. In the short term, the 4-hour online market has encountered resistance in the upward direction, and the bullish trend has begun to shrink, but it still has not gone out of the bullish range. The author believes that it is normal to encounter resistance after a wave of upward movement Phenomenon, as long as it does not break the 35700 line mentioned by the author, everyone can rely on this position to place long orders. If it falls below, the long order will have to be cancelled. In addition, it is worth noting the hourly trend. The Bollinger Bands have started to shrink in a narrow range, and the market is starting to be in a state of anxiety. Everyone needs to wait patiently and determine the direction before proceeding. Follow the official account Tang Sizhe to get more analysis. Due to limited energy , the article cannot be updated every day. When the market reverses, the author will give a reminder, and everyone can grasp it by themselves.
Compared with Bitcoin, the recent trend of Ethereum is a bit weaker. Although the market rebounded before, it finally stopped at 2620 and began to fall. Now it has returned to below 2500, approaching the position of 2400. From the current From the perspective of the trend, everyone pays attention to the support of this position, and can rely on this position to place long orders. From the analysis of the daily line, Ethereum is currently in a low-level oscillating situation after experiencing a continuous downward trend. The market has tested the 120-day moving average twice. The support at the position of 2300 failed to break further. Although the intraday trend has declined, as for whether it can reach the position of 2300, we will focus on the support at the position of 2400. Only after breaking the position will there be further downward momentum. Short-term analysis, The 4-hour line is in a bearish trend. Once it breaks through the range of 2400-2410, the market will have room for further downward movement. Generally speaking, Ethereum is still relatively weak. It is still a step back in the day, and the next step is to pay attention to the support of the 2400 position. After breaking the position, the downside space will increase.
