The cryptocurrency market has recently shown volatility, attracting investor attention to the trends of BitCoin (BTC) and Ether (ETH). The BTC daily chart indicates significant support around 112500, while the 4-hour chart shows support at 118500, but the support on the 1-hour chart has been broken. As for ETH, the daily chart shows support around 3650, which is close to the previous rally's starting point, the 4-hour chart has support near 4065, and the support on the 1-hour chart has just been breached.



The current market focus is on the upcoming China-U.S. economic and trade negotiations. Most market participants expect that both sides may extend the negotiation period. Considering the uncertainty that this significant event may bring, conservative investors may choose to take a wait-and-see approach or adopt hedging strategies.

It is worth noting that the recent market trend may validate the previously suggested view that the total market capitalization of cryptocurrencies (Total3) has peaked in the short term. The reliability of this indicator is currently being tested by the market.

In this complex market environment, investors need to closely monitor the macroeconomic situation, especially the development of China-US trade relations. At the same time, technical analysis of the encryption currency market should not be overlooked, as the gains and losses of key support levels may have a significant impact on short-term trends.

In the face of the current market, investors should remain vigilant, manage risks properly, and develop suitable trading strategies based on their own risk tolerance and investment goals. Whether choosing to wait and see or participate in trading, it is essential to fully consider the market's uncertainties and potential risks.
BTC0.69%
ETH0.92%
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Repost
  • Share
Comment
0/400
MEVHunterWangvip
· 6h ago
Those who do Technical Analysis are all playing tricks!
View OriginalReply0
TrustlessMaximalistvip
· 6h ago
If you don't play short orders, just wait for bankruptcy!
View OriginalReply0
GasWranglervip
· 6h ago
actually the total3 metric is demonstrably flawed... if you analyze the mempool data properly you'll see a completely different story than what these "analysts" suggest
Reply0
FlashLoanKingvip
· 7h ago
Another big dump is coming~
View OriginalReply0
RegenRestorervip
· 7h ago
In such a market, are we still looking for support? Just stand guard.
View OriginalReply0
ApeShotFirstvip
· 7h ago
Fried too much, fell silly and then looked at the support.
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)