$BTC 7.23 Wednesday early morning Bitcoin and Ethereum latest market analysis and trading recommendations

The market never shows mercy to those who charge blindly; choosing the right direction is far more critical than just charging ahead. If you are still operating based on feelings and cannot clearly articulate your logic for buying long or selling short, it might be a good idea to talk to Qianyu. At least it can help you clarify the current trend, so you will have a better understanding of when to enter and exit the market—it's always better than stumbling around with your eyes closed. By taking fewer detours, you can walk more steadily and further in the crypto space. Looking back at the evening, Bitcoin showed a trend of rising first and then falling. When it approached the high point near 119,675, it faced pressure and quickly retreated until it hit the low point of 117,620, where it stopped falling and rebounded. Currently, the market is warming up again, oscillating around 119,500. Ethereum's evening trend corresponded with Bitcoin's, first falling to the support level near 3,630, and then starting a rebound. As of now, it has risen to a high point near 3,750. Every day, Qianyu shares insights in advance; on Tuesday, there were three long positions and two shorts taken during the day, totaling over 8,400 points in profit. For Ethereum, there were three long positions and one short taken during the day, totaling 434 points in profit!

From the current market situation, Bitcoin has experienced a “high-speed retreat - bottom rebound” after the evening, currently oscillating around 119,500, displaying a “V-shaped recovery” characteristic overall. The daily level is still in a red bar contraction phase, indicating that the medium-term upward momentum has slowed; however, the hourly MACD green bars are turning red, and the fast line is crossing above the slow line, showing short-term rebound signals. In the early morning, attention should be paid to whether the energy bars can continue to expand. We need to guard against bearish sentiment; if it breaks below the support level, it may open up further downward space. In the early morning, Qianyu suggests focusing on low long positions.

Wednesday early morning strategy:

Buy Bitcoin around 118,300, targeting 121,000.

Buy Ethereum around 3,670, targeting 3,780.