Yueying: Bitcoin and Ethereum Market Analysis for Today, July 16. Accurate Execution of Long Positions in Bitcoin. Will the Role Reversal of Ethereum Start a Bullish Trend?

I am Zhou Yueying, let’s take a look at today’s sharing!

Bitcoin Technical Analysis————

In the previous text, a short position at 115800 was accurately executed, yielding a profit of over 2000 dollars. After a pullback, Bitcoin entered a consolidation phase. The previous candle closed negative, slightly breaking the 7-day moving average before recovering. The market opened near the 7-day moving average and is currently operating in a state of expansion of the Bollinger Bands; the short-term moving averages are trending upwards. The MACD fast and slow lines are also moving upwards, with the volume bars decreasing. The KDJ has crossed downwards, and the VR indicator is consolidating around the 170 value. On the 4-hour chart, the market tested support and rebounded slightly, standing above the 7-day moving average and testing the middle band. The Bollinger Bands show signs of tightening, with short-term moving averages operating around the middle band. The MACD fast and slow lines are trending downwards with signs of a turn, and the volume bars are decreasing. The KDJ has crossed upwards, while the VR indicator is consolidating around the 110 value. Overall, after hitting a phase top and pulling back, the market has entered a consolidation phase. In the short term, we continue to look at range-bound movements, with support levels focusing on previous lows and the lower band on the 4-hour chart, and resistance levels focusing on the area around 120000.

Short-term Bitcoin: 119600 sell, 116580 buy (strategy activated, manage the space yourself)

Ethereum Technical Analysis————

Previously, Bitcoin was strong while Ethereum was weak. Every time Bitcoin surged, retail investors felt that Ethereum would follow historical cycles and rally, but it did not. Retail bulls gradually lost confidence in Ethereum. When Bitcoin pulled back, they aggressively shorted Ethereum and achieved some results, as the big players were cultivating a habitual mindset. If Bitcoin consolidates this time, will Ethereum have a significant rally to catch the retail investors who are already biased against it? It’s also a possibility. However, when it’s time to short, one should short, just set proper stop losses. In the short term, support is focused around 3080, and resistance is around 3300. In such a market, short-term operations should be cautious, focusing on short-term.

Short-term Ethereum: 3108 buy, 3320 sell (strategy activated, manage the space yourself)

——I am Zhou Yueying, a teacher focused on technical analysis. Friends who have any questions about operations or trends can communicate and learn with me! See you next time. $BTC $ETH #比特币巨鲸动向 #山寨季何时到来？