BTC Analysis
BTC briefly dipped below $11,000 overnight, finding temporary support at the 30-day moving average (~$10,900). Despite rebounding to $11,800 yesterday, it faces strong resistance from the 5-day MA (~$11,600). Key observations:
- Current Range: Trapped between 5-day MA resistance ($11,600) and 30-day MA support ($10,900).
- Trend Prediction: The correction since June 27 remains time-deficient. A breakdown below the 30-day MA toward the rising 60-day MA (~$10,000) is likely, aligning with gradual consolidation.
- Long-term Outlook: Daily charts show intact upward trends without technical breakdowns.
ETH Outlook
ETH breached its 60-day MA, with critical resistance zones:
- Immediate Barrier: 5-day/60-day MA confluence at $272–273.
- Higher Resistance: 10-day/30-day MA at $285–290.
- Downside Target: Likely retests $220–230 before stabilization.
LTC Performance
- Bearish Signals: Broke 60-day MA; rebounds capped by 5-day MA.
- Support Weakness: $95 (recent low) may fail due to insufficient correction depth compared to peers like EOS/BCH.
BCH and EOS Prospects
- BCH: Approaching bottom at $300 with limited downside but extended consolidation expected.
- EOS: Already corrected 50%+ since June 1 peak ($4.3 support). Potential early recovery candidate if BTC stabilizes.
FAQ Section
Q1: When will BTC resume its uptrend?
A: Likely after prolonged consolidation (weeks) near $10,000–$11,000, pending broader market confidence.
Q2: Is ETH’s drop below 60-day MA a sell signal?
A: Not necessarily—monitor $220–230 for accumulation opportunities amid long-term bullish fundamentals.
Q3: Why is EOS outperforming in corrections?
A: Early June peak allowed extended adjustment; current $4.3 support aligns with historical reversal zones.
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