Analyst Liangqiu: Ethereum repeatedly surged on July 16, do not chase high positions

Bitcoin/Ethereum took positions again in the early session at 117600 and between 3130 to 3140, with a nephew at 3153, once again sweeping a loss of about ten to twenty points, after all, after breaking the early session level, a pullback relies on the high point for operations; a loss of ten to twenty points is still acceptable. Currently, the market remains high, and the four-hour and eight-hour lines are about to close, with Ethereum also reaching the upper Bollinger Band area on the eight-hour chart. With the market rising, do not chase high positions, pay attention to the upper 3200 integer resistance, while Bitcoin does not show significant fluctuations.

Since the low point of June 22 at 98100 and 2110, the market has been oscillating and rising to the current high point of 123300 and around 3174, showing a very large overall upward space, and the time cycle has been nearly a month. Currently, the market can rely on the support below that has been tested multiple times to go long, and since we are not far from the high point, there is no need to chase long positions, instead, try to see a top reversal.

For Bitcoin/Ethereum, it is recommended to continue entering positions around the current price of 118200 and near 3170 to 3180, with a short-term target of around 116000 and 3100, and if broken, continue to look down at 114000 and the 3000 line, with a nephew at 3210. #CPI数据来袭