July 18 Evening Analysis

The current market overall maintains a fluctuating upward rhythm, with prices steadily climbing within a relatively clear channel. Although there are occasional pullbacks, the overall direction remains upward, and the trend has not been broken.

Currently, the shipping trend has just retreated to the lower edge of this fluctuating upward channel, and this position also coincides with the important support level from the previous trading day, forming a "double support". From a technical analysis perspective, this position has been validated by the market multiple times before; each time the price retests here, it stabilizes without effectively breaking down. Therefore, in the short term, this support area remains relatively strong, and the likelihood of the market stabilizing and rebounding here is high.

Although the general direction is still bullish, we should be bullish when the market is bullish, and when it’s time to take profits, we should do so. Being stubborn will definitely not yield any benefits; in the evening, a short position could be taken.

Personal Suggestion

Bitcoin: Enter long around 118300-117800, target 120200-120700

Ethereum: Enter long around 3590-3560, target 3680-3720 $BTC