🎳July 21st Midday Market Insights.🎳
$BTC Insights:
The major currency has broken through 117415 with volume, and the hourly level's closing price is above 117415, pursue long positions on the right side, with a stop loss if it breaks.
A drop below 116735 with volume and an unsuccessful rebound should lead to pursuing short positions on the right side, with a stop loss if it recovers. Pay attention to the changes in volume and ensure to have stop losses in place.
If a false breakdown occurs at 116275, add one more long position, with a stop loss at the false breakdown low or if it breaks below 115695. If it doesn't recover, do not add more.
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The major currency has established stability above 117712 and is looking upward towards 118414-119607. If it cannot stay above 118414, it will be difficult to sustain the upward trend.
When shorting the major currency, be cautious of a 2B false breakout appearing at 118414 for a short position; stop loss if it stabilizes above 119572.
Conservative players wait: long at 113772, stop loss if it breaks below 112996.
The major currency's 2-hour level box was falsely broken and recovered; it is currently rebounding upwards. If the rebound cannot break through the box's midpoint, it will continue to test the lower boundary of the box. This is a natural rebound followed by a second test; if the second test does not produce a lower low, it will stop falling. If the second test breaks below the neckline indicated by the yellow arrow, the left side's yellow boxed area will break through smoothly, as there isn't much accumulation of chips here after a rapid increase, leading to a major currency target of 114000. Pay attention to the box's midpoint; if it cannot break through, the market has not reversed but only rebounded.
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Upper resistance 118509-119598-120687
Lower support 116332-115196-113776
At the 4-hour level, breaking below 116802 looks down towards 115672-115136, with a breakout below 116802 indicating the start of a 4-hour correction for the major currency.
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$ETH Thought Process:
The secondary currency has broken through 3744 with volume, pursue long positions on the right side, with a stop loss if it recovers.
A drop below 3708 with volume indicates pursuing short positions, with a stop loss in place.
On a pullback to 3676 confirms effective support, add one more long position, with a stop loss at 3632.
The secondary currency has stabilized above 3762 and is looking upward towards 3820-3880.
Watch for a short position at 3886 on the upside, with a stop loss at 3917.
Left side orders: long at 3533, stop loss if it breaks below 3493.
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Upper resistance 3762-3820-3880
Lower support 3715-3680-3637
At the 4-hour level, breaking below 3705 looks down towards 3679-3630.
The secondary currency's wedge was broken through yesterday, followed by a large bearish candle forming a bearish engulfing pattern. When a bearish engulfing pattern appears, your long positions should exit, as it indicates a market correction is coming. Additionally, it has fallen back into the wedge and can only make a long position if it breaks out of the wedge; otherwise, it can only be a short-term long position before adjournment.
