Evening Thoughts on July 21
The market is currently quite strong, oscillating upwards with considerable momentum, and there is not much space for a pullback. It is possible that there will be a direct surge in volume to break through new highs. The support levels below have been consistently rising, and even if there is a pullback after reaching a high, there hasn't been a rapid decline, indicating that the upward trend has not been truly impacted.
Looking at the hourly chart, the candlestick pattern is gradually gaining strength, and the bullish momentum is continuously increasing. The trading strategy for the afternoon remains the same as before; pullbacks present good opportunities to go long. However, one should pay attention to whether the bulls can continue to gain momentum. Be flexible in trading; if there is resistance when reaching a high, it may also be an opportunity to short in the short term.
Trading strategy for Bitcoin: Look to go long around 116850-117750 on pullbacks, target 119550.
Trading strategy for Ethereum: Look to go long around 3725-3755 on pullbacks, target 3925.
