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Bitcoin and Ethereum Intraday Market Analysis!
Bitcoin's recent decline is quite predictable: it first dropped to around 64,300 to trigger buybacks, then rebounded to the resistance level of 66,790 but couldn't break through. The second dip even broke below the previous low, indicating a short-term weak trend. Currently, 65,025 is the first hurdle. If we can break and hold above this level with increased volume, only then will the hourly trend be considered stabilized, opening the chance to push towards 65,850-66,790. If we can't break through, expect sideways movement between 63,373 and 65,000. A break below 63,373 would likely lead to a drop toward the 60,000 range.
$BTC There are no clear signs of a bottom yet, so avoid counter-trend buying. Focus on right-side trading: buy on volume breakout above 65,025 to chase rebounds; if volume drops below 63,667 and then rebounds fail to recover, consider aggressive short positions with strict stop-losses. Resistance levels are 65,025, 65,850, and 66,790; support levels are 63,830, 62,660, and 61,675.
Ethereum short-term looks like it’s testing the lower boundary of the bullish flag pattern, but this is not a bottom signal. If it can't hold above 1,835, it will test support again, and if support fails, it could drop to 1,765. Only a break above 1,868 can signal a decent rebound; otherwise, expect continued downward movement.
$ETH In terms of trading strategy, buy on volume breakout above 1,868 with a stop-loss if it drops back below; short on a breakdown below 1,838 with strict stop-loss. Conservative traders can wait for a successful retest of 1,785 support before going long, with a stop-loss below 1,727. Aggressive traders can place a long order at 1,700 with a stop-loss at 1,664. A light short position can be taken if it rebounds to 1,905, with a stop-loss above 1,944. Resistance levels are 1,868, 1,905, and 1,935; support levels are 1,793, 1,738, and 1,662.
The overall approach is to avoid guessing the bottom or going against the trend. Wait for key levels to be broken before acting. Protecting your stop-loss is more important than chasing quick profits.