Evening Analysis on July 16

For Bitcoin and Ethereum, it is advisable not to rush to make any moves for now, as today's market trend in Hangzhou is somewhat abnormal. A slow climb from 117000 to 119000, we are currently still observing and feel that the market shows signs of pressure, possibly testing the 120000 mark first before going down.

From a broader trend perspective, the bearish outlook is clear, and there are no issues with that.

If you want to operate in the short term, aggressive traders can try to make moves in the range of 118000 to 117600, targeting near 120000, and consider making moves again after the U.S. market opens.

The situation with Ethereum is similar to Bitcoin, with consistent trends. #BTC走势分析