⚽ July 18th Afternoon Market View. ⚽
$BTC Opinion:
Bitcoin has broken through with volume at 120592, closing above the 120592 hourly level. Brave traders can go long on the right side, with a stop loss if it breaks.
120028 has broken down with volume; if it cannot recover on the bounce, go short on the right side, with a stop loss if it recovers. Pay attention to changes in volume and manage your stop loss carefully.
At 118320, a false breakdown allows for an additional long position; if it breaks the low of the false breakdown or 117515, set a stop loss. If you cannot recover, do not go long.
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Bitcoin's hourly level has broken and stabilized at 120592, continuing upwards to 121113-122000. If it stabilizes at 120592, it will aim for 122000.
When shorting Bitcoin, be cautious of a 2B false breakout at 122000; short with a light position. If it breaks and stabilizes at 122823, set a stop loss.
Conservative players should wait: long at 116340, with a stop loss if it breaks 115645.
Bitcoin broke the triangle last night, so shorting was fine; however, if it re-enters the triangle, your short position should exit because the recent breakdown might be a false breakdown. At this point, it may be near your cost price, so don’t hesitate to exit.
If you haven't exited and Bitcoin breaks above the triangle's upper boundary and the neckline, it indicates Bitcoin is preparing to surge upwards. If you still don’t exit, you will only face stop losses. You were given two chances to exit, and if you hesitate, being stopped out is your final result. Acknowledge your mistakes and don’t complain when facing losses.
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Upper resistance: 120552-121139-122117
Lower support: 119306-118209-117100
At the 4-hour level, if it breaks 119306, look down to 118272-117100.
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$ETH Thought:
Ethereum has broken through with volume at 3609; go long on the right side, with a stop loss if it recovers.
3588 has broken down with volume; go short on the right side, with a stop loss managed carefully.
On a pullback to 3525, confirm effective support and go long an extra position; set a stop loss if it breaks 3500.
Ethereum's hourly level has broken at 3623 looking upwards to 3655-3682-3709. As long as it stabilizes at 3623, the following positions will come.
For Ethereum, pay attention to 3682 for a short position; set a stop loss if it breaks 3709.
Left-side orders: long at 3369, with a stop loss if it breaks 3339.
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Upper resistance: 3623-3655-3682
Lower support: 3526-3457-3405
At the 4-hour level, if it breaks 3524, look down to 3460-3423. Ethereum is extremely strong; last night, it broke down and formed a bearish flag pattern with three downward spikes, then took off and re-entered the flag. The upper boundary of the flag has been breached, invalidating the bearish flag, so do not short Ethereum lightly. Meeting adjourned.