July 22 · Daily Market Interpretation
$BTC Period of consolidation, pay attention to volume breakout
Bitcoin continued to maintain a fluctuating pattern yesterday,
The 4-hour cycle has recovered well, and the downward momentum is beginning to weaken, indicating that the market is likely to rise again.
Although short-term sentiment is bullish, the MACD death cross has appeared, and an upward rebound requires volume support; otherwise, it is easy to weaken and retrace.
The daily line is still in consolidation, with an unclear direction; the key point is whether it can break through the 118K area with volume;
The weekly structure continues to recover, and the logic of a long-term uptrend remains intact.
The core focus is on the Federal Reserve's interest rate cut process and the movements of the US dollar index, which may maintain a range-bound consolidation in the short term.
Short-term support is focused on the 115500-116000 range, while the upper pressure remains in the 118000-118500 area.
Operational suggestion: Do not chase highs at the current stage; patiently wait for direction confirmation or opportunities to buy on dips.
$ETH Independent trend continues, short-term needs to digest the gains
Ethereum led the mainstream yesterday, moving in an independent rhythm,
But the short-term rise is too rapid, and a divergence signal has appeared in the 4-hour chart, indicating expectations for short-term consolidation or retracement.
The daily structure remains strong, with healthy volume, and sentiment is bullish, but it has also entered the overbought range, so be cautious when chasing highs.
The day is expected to mainly oscillate or slightly retrace, with support at 3550-3650 and resistance at 3750-3800.
Operational suggestion: Holders can reduce positions to take profits at high levels, waiting for a retracement to re-enter, while the overall trend remains strong.
Altcoin sector sentiment recovery, liquidity begins to shift
With the stabilization of BTC and ETH, altcoins collectively initiated, and the altcoin index has significantly risen, the market has entered a rotational upward phase.
Currently, altcoins are no longer constrained by BTC retracements, indicating that market sentiment has gradually repaired, and funds are spreading from mainstream coins to altcoins.
ETH-related altcoins are performing well, significantly influenced by ETH, with a focus on PENDLE, ARBITRUM, LDO, etc., which have good structures and opportunities for independent trends.
Operational suggestion:
BTC is still in the middle of oscillation, waiting for breakout signals;
ETH rhythm is strong, with potential for short-term retracement consolidation, which presents an opportunity;
The overall trend remains within a structural bullish trend, suggesting to position accordingly and manage risk.
