Analyst Liang Qiu: 7.17 Bitcoin/Ethereum Market Analysis

The Bitcoin/Ethereum market remains high, but each wave of increases breaking new highs is also a good opportunity for short positions. In the early session, we had short positions around 118800 to 119300 and 3380 to 3400, and the market fell to around 117600 and 3310. It then rebounded again, especially with Ethereum directly breaking recent highs again. As a result, some were still bullish on the early session prices, which is indeed impressive; did no one take profits with over 70 points of space from above 3380 to 3310?

Currently, the market has pulled back after reaching a high and is still in a volatile trend. The current trend is indeed relatively strong, but after Ethereum's surge, the four-hour and eight-hour candles are starting to show bearish signals, which is a sign of a potential top. Meanwhile, Bitcoin has repeatedly faced resistance and pulled back in the range of 119000 to 120000. Each round of altcoin surges generally coincides with the market reaching a peak. It's advisable not to chase the upswing, but the lower levels around 3300 and 116000 can be relied upon for short-term support in conjunction with subsequent market conditions. If the market appears weak at that time, then no action should be taken.

Evening operation suggestion: short positions around 119300 to 119800, target around 117500; for Ethereum, short positions around 3430 to 3450, target around 3350. #币安HODLer空投ERA