From the current market perspective, the daily level shows high-level fluctuations after a continuous rise, with a long upper shadow formed on July 18, indicating significant selling pressure above. The hourly fluctuations have recently decreased, with prices repeatedly testing around 3540, showing a consolidation state over the weekend. The MACD on the hourly chart is below the zero line, with the fast and slow lines gradually converging, the red bars are shortening, and momentum is weakening; the daily MACD still maintains a bullish trend but shows signs of divergence.
The RSI hourly value is close to 50, indicating a neutral to weak market sentiment; the daily RSI has fallen from the overbought zone to a normal range, showing a slowdown in the upward trend.
The EMA hourly 7 and 30 moving averages are converging, while the 120 moving average is far below the current price level, indicating an overall bullish trend; the daily EMA moving average system shows a bullish arrangement, but the short-term deviation rate is relatively large, indicating a need for adjustment. This signal directly reflects the short sellers' retreat being hindered, suggesting strong support at lower levels, making it difficult for short sellers to achieve significant downward movement, while bulls are gradually recovering lost ground, indicating the possibility of stabilization and rebound in the short term. Over the weekend, we plan to adopt a strategy of buying low and selling high.
Bitcoin: Buy in the range of 117500-116000, target 118500-119500.
Ethereum: Buy in the range of 3530-3500, target around 3650.
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