• Bitcoin Market Analysis: The current price of Bitcoin is 118,700, in a strong upward phase, overall showing a bullish dominant trend. In the short term, the price is fluctuating and testing resistance levels in the 118,000 to 120,000 range, with strong market sentiment; however, some indicators suggest a potential technical pullback risk in the short term, with prices likely to slightly retrace to the support level around 118,000 before attempting to break through the strong resistance level at 120,000.
• Ethereum Market Analysis: According to data from CoinWorld, the price of Ethereum against the Chinese Yuan is 21,502.60, up 1.72% from the previous day, with a market cap of approximately 259.99 billion and a 24H volatility of 3.61%. From a technical indicator perspective, based on MACD analysis there is no clear trend; the MACD histogram remains positive but is gradually shortening, indicating weakening bullish momentum; the KDJ indicator is neutral at 80, with no golden or death cross; the RSI value is above 70, suggesting a possible pullback after a rise. In terms of trend, Ethereum has shown an upward trend since July 10, currently consolidating at a high level, with the bullish trend still prevailing. In the short term, it may first test the 3,040 resistance level, and if the breakthrough is weak, it might retrace to the support range.
Trading Advice
Short Bitcoin in the 118,700-119,000 USD range, targeting 117,000 USD
Short Ethereum in the 2,960-2,980 USD range, targeting 2,900 USD