🥊July 17th Market Commentary.🥊
$BTC 's Opinion:
The major cryptocurrency has broken through 118532 with volume, closing above the 118532 hourly level, look to buy on the right side, stop loss if it breaks.
117769 has broken down with volume, unable to recover on the right side, look to sell short, recover stop loss, pay attention to volume changes, have a good stop loss.
116291 shows a false breakdown, add one more long position, stop loss at the false breakdown low or at 115695, if it doesn't recover, don't go long.
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The major cryptocurrency at the hourly level has broken through 118770 and is stable, looking up at 119566-120528; if it cannot hold 118770, it is not useful.
When shorting the major cryptocurrency, be cautious of a 2b false breakout at 120518, stop loss if it breaks above 121137.
For conservative players: buy at 113733, stop loss if it breaks below 112905.
Observe the volume corresponding to the large doji indicated by the white arrow at the hourly level; if the volume is large but the price doesn't close up, this means there is volume without price, and a serious divergence has occurred between bulls and bears at this position, with bulls saying the bears are foolish and bears saying the bulls are reckless.
The pattern drawn in the chart is a bearish flag; it only invalidates if it breaks above the upper boundary of the bearish flag. It has tested upwards three times without a successful breakout and has broken below the lower boundary of the bearish flag. The support level indicated by the white arrow below needs to be tested today, if it cannot hold, a decline will begin. Be cautious about going long on the major cryptocurrency until it recovers within the bearish flag; going long can only be short-term.
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Upper pressure 118475-119170-120170
Lower support 118210-117001-116275
At the 4-hour level, if it breaks below 118171, look down at 117100-116207.
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$ETH 's Thought:
The second major cryptocurrency has broken through 3393 with volume, look to buy short on the right side, recover stop loss.
3322 has broken down with volume, look to sell short, have a good stop loss.
On the pullback to 3235, confirm the support is valid, add one more long position, stop loss at 3200.
At the hourly level, the second major cryptocurrency has broken through 3399, looking up at 3428-3463.
For the second major cryptocurrency, pay attention to taking a light short position at 3428, stop loss if it breaks above 3463.
Left side order: buy at 3181, stop loss if it breaks below 3142.
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Upper pressure 3399-3428-3463
Lower support 3314-3274-3232
At the 4-hour level, if it breaks below 3275, look down at 3183-3100. The slope of the second major cryptocurrency's rise is too steep; it needs to pull back to the 50 Fibonacci level for better upward movement. The yellow box highlights the position where two high-level doji candles were formed, indicating that this position has significant pressure and cannot pass in one go, meeting adjourned.