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Good morning, investors. As I will be on a business trip for several days, I am providing today's market analysis in advance. It is worth noting that today is Friday, and unexpected market fluctuations may occur overnight, so I advise everyone to remain cautious while trading.
Currently, the overall market's bullish momentum has weakened, showing slight fluctuations during the day. For short-term traders, timely profit-taking is particularly important. Overly chasing large returns may lead to profit retracement, so it is better to adopt a more prudent strategy.
The Bitcoin daily chart has been in a consolidation phase for quite a long time, and it seems that the opportunity to break through the current range is about to arrive. However, predicting the specific direction is not a wise move. Instead, we should focus on risk management and be prepared for various possibilities.
Today's key position for Bitcoin is around $118,435. Only by staying above this position can a rebound on the 1-2 hour level possibly begin. The resistance levels to watch above are around $119,406, $120,130, and $120,955. If it cannot hold above $118,435 today, it indicates insufficient rebound momentum, and it may continue to pull back. The support levels below are around $117,040, $115,870, and $114,730.
For Ethereum, the key position today is at $3,660. As long as it does not fall below this level on the 4-hour chart, there is still potential for upward movement after a short-term pullback. The resistance levels above are around $3,706, $3,763, and $3,811.
Overall, the market is still at a critical position. Investors are advised to closely monitor the above price levels, manage risk effectively, and adjust their investment strategies in a timely manner. Regardless of how the market changes, maintaining calm and rationality is always the key to successful investing.