【2024.7.23 BTCETH Daily Market Analysis】

Good afternoon, brothers. Today is a moment worth commemorating and exciting. The evening ETH spot ETF is about to start trading. After trading starts, also pay attention to the price risk.
You can refer to the pump after the BTCETF was approved on November 11. It fell 16 points in 2 days, and the price of the coin fell from 49,000 to 38,500 after trading for about 2 weeks. After a retracement of about 20%, it started to pump up!
So after the ETHETF starts trading tonight, the price may rise and then fall back. It is recommended to hold your positions and wait for the market to stabilize after this time Node has passed, and then enter the market. Only trade based on the market that you understand!

Intraday market analysis:
BTC is currently experiencing a small pullback on the 4-hour timeframe. Today, pay attention to the support levels around 66560, 65760, and 65000. As long as it does not fall below the daily support level of 65000, this pullback is considered normal, and it will eventually bounce back and rise again!
Today, in order to pump, the 4-hour closing level must be above 67500. Only when this position is firmly held in the 4-hour level can the pullback be considered complete and the rise begin. Pay attention to the two positions near 68240-69150 as the resistance level!

ETH accurately hit the first support level given in the early morning and started to rebound. The rebound seems a bit weak now. Currently, there is a small-scale pullback on the 4-hour timeframe. Today, pay attention to the support levels around 3415-3380-3345. As long as it does not fall below 3415, which is the support level on the daily timeframe, it is considered a normal pullback and it will still rise!
Today, if you want to pump, the 4-hour closing price must stand above 3485. Only by holding this position steadily can the 4-hour level be considered to have completed the pullback and started to rise. The upper targets/resistance levels to watch out for are around 3523-3562!