🚬 Midday market outlook on July 23rd. 🚬
$BTC 's view:
The big pie has broken through 119620 with volume, and the hourly closing price is above 119620. Enter long on the right side, with a stop loss on a breakout.
If it falls below 119218 with volume and fails to recover, enter short on the right side, with a stop loss on recovery. Pay attention to changes in volume and manage stop losses.
If there is a false breakdown at 117631, add one more long position. Set a stop loss at the false breakout low or below 116899, and do not add more if it cannot recover.
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The big pie has broken through and stabilized above 120,000. Look upwards at 120687-121153. If it cannot stabilize above 120,000, it cannot continue upwards.
When shorting the big pie, pay attention to the upper 120613 where a 2B false breakout occurs. Set a stop loss at 121693 if it stabilizes after breaking through.
Conservative players wait: long at 113851, stop loss below 112970.
Look at the bearish butterfly pattern drawn on the hourly chart and note the D point of the butterfly pattern at 120682. This position is a potential reversal area for the bearish butterfly pattern. It does not mean that reaching the D point will definitely lead to a decline, but shorting here is more cost-effective than other left-side shorts. Remember to use half a position for left-side shorts.
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Upper resistance at 119632-120683-121153
Lower support at 118392-117600-116529
On the 4-hour chart, if 118468 breaks down, look down to 117579-116532. As long as it does not break below 117579, everything is still under control.
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$ETH 's thoughts:
The second pie has broken through 3755 with volume. Enter long on the right side, with a stop loss on recovery.
If it falls below 3728 with volume, enter short on the right side, with a stop loss.
Pull back to 3653 to confirm effective support, add one more long position, and set a stop loss below 3620.
The second pie can stabilize at 3771 and look upwards at 3798 - the previous high.
Be mindful of 3824 for a short position, and set a stop loss at 3859 if it breaks through.
Left-side orders: long at 3535, stop loss below 3500.
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Upper resistance at 3753-3783-3824
Lower support at 3695-3655-3619
On the 4-hour chart, if 3679 breaks down, look down to 3626-3577-3529. If 3626 is broken and cannot recover, 3500 will come.
On the hourly chart of the second pie, this yellow trend line has been broken, and multiple upward rebounds have failed to break the trend line. This trend line is currently the resistance for the second pie. If it cannot break through, the second pie cannot continue to rise. Everyone, pay attention to this trend line. Only by breaking through this trend line can you consider going long, meeting adjourned.
