7.20 Evening Bitcoin and Ethereum Market Analysis

From the current market perspective, Ethereum has formed a four-week upward trend, and the body of the candlestick is quite full, with continuous large bullish candles rising. Currently, after a surge in volume on the short-term, there has been no further breakout at high levels, but there has also been no sign of a pullback after probing higher, with local corrections still showing strong performance.

Although the performance remains strong, the short-term indicators have entered a divergence zone, indicating a need for adjustment. With the previous continuous increase in volume, the current consolidation is not at a high point, and increased volume could lead to a peak. After a surge in volume towards the end, it is advisable not to chase the rise or the highs. The current rhythm may still be accompanied by repeated fluctuations at high levels, and the price action may probe new highs before retracing. This requires the ability to respond to changes in real-time, and based on the patterns observed, after a rise, short positions may be considered.

Bitcoin can be traded around: 118500-119000, with a target of 117100-116600.

Ethereum can be traded around: 3760-3790, with a target of 3660-3620#btc #以太坊突破3700 .