Chen Xi on Trends: 7.23 Morning Bitcoin and Ethereum Trading Ideas and Strategy Analysis

Regardless of whether a person's past is regrettable or glorious, it will become history and evolve into a story as time passes. We must grasp the present, let go of the past's halo, and pick up the passion to seize the current market. The midnight market trend once again perfectly aligns with our thoughts, and the points given have also perfectly reached their targets. Last night, Bitcoin dipped to the 117,522 line, after which bulls quickly rebounded and pushed it higher, with the midnight peak reaching the 120,300 line. Ethereum's trend showed basically no significant pullback along the way; after a dip to the 3,626 line last night, bulls also quickly recovered, currently peaking at the 3,730 line. The strategy given at midnight was to go long, with Bitcoin perfectly capturing 2,000 points and Ethereum gaining 70 points. For the current rhythm, we just need to follow the trend.

   Looking at the current market, all levels—monthly, weekly, and daily—are running continuously near the upper track, repeatedly breaking the upper track and continuously making new highs. The overall trend on the monthly level is upward, the weekly level shows a strong bullish candlestick with a full body, and the daily level is in a wave-like upward trend. All major levels are strong, and Ethereum's catch-up has already arrived, so our strategy is to follow the trend and trade accordingly; there is no highest, only higher. After the weekly and daily levels open up space, they officially enter a strong bullish phase, with a new high occurring every day or half a day. Structurally, there is still the possibility of reaching new highs, and the current strategy remains to follow the bulls. The short cycle is still in a high-level consolidation process, and it is expected to remain biased towards bullish consolidation, with short-term trading still revolving around pullbacks to enter long positions. If the pullback is not significant, we follow the trend. This is a period that tests on-the-spot ability and adaptability.

  On Wednesday morning, Bitcoin can be bought around 119,500-119,000, with an initial target of 121,500.

  Ethereum can be bought around 3,700-3,680, with a target of 3,800. $BTC $ETH