$BTC 7.21 Monday Evening Bitcoin and Ethereum Latest Market Analysis and Trading Suggestions
Don’t let short-term emotions disrupt your strategy; true legends are not born in calm waters—they always find their footing amid the ups and downs, building strength through the fluctuations. In the afternoon, the market's bullish momentum continued to be released, with Bitcoin surging again to attack, reaching the key resistance level of 119720, showing a strong offensive. Ethereum, on the other hand, displayed a volatile trend with an initial decline followed by a rise. After stabilizing at the support level of 3755, it quickly regained its upward momentum, currently breaking through the previous high of 3834, also showing strong performance. Monday opened with a bang; Bitcoin entered a short position early in the morning and then went long, capturing over 3700 points, while in the afternoon, it went long again, gaining another 1400 points. Ethereum first entered a short position in the morning, then switched to long, capturing over 120 points, and in the afternoon, it followed Bitcoin's momentum, gaining 61 points!
From the current market perspective, the four-hour chart shows a clear trend of consolidation. Previous market movements have consecutively formed two solid bullish candlesticks, releasing strong upward momentum, with the price aggressively attacking from the lower Bollinger Band area, not only piercing through the middle band but also approaching the upper band resistance level, indicating significant short-term bullish momentum. However, upon reaching the upper band, the market encountered clear resistance, subsequently transitioning into a pressure-induced pullback, which seems more like a digestion of the rapid increase seen earlier. Tonight's suggestion is to primarily focus on long positions as long as the trend has not broken below previous lows.
Monday Evening Strategy:
Bitcoin Long near 117500, target at 112000, and continue to look upward if broken.
Ethereum Long near 3780, target at 3880.
