$BTC 7.23 Wednesday Morning Bitcoin Ethereum Latest Market Real-Time Analysis and Trading Suggestions

Besenet is back to “singing a positive tune”! Before the tariff deadline, U.S. officials are not on the same page. Earlier this month, Trump stated in a letter to more than 20 trading partners that U.S. import tariffs would increase on August 1, while also mentioning that if these countries adjust their trade policies, tariffs may be reduced.

The market is not overly worried about Trump's tough stance in the letter. Many traders believe that given Trump's previous retreats, he may not insist on imposing higher tariffs on August 1.

Looking back at the early morning, Bitcoin showed a fluctuating upward trend, retreating to a low point of 117522 last night, and then began a journey of fluctuating rise. As time passed, by the early morning hours, the market reached a high point of 120300, demonstrating strong upward momentum.

Ethereum's market, on the other hand, experienced some ups and downs. After falling from a high point of 3748, it stopped at a low point of 3655, and then rebounded to around 3730, gradually recovering lost ground. On Tuesday, there were three long positions and two short positions taken during the day, totaling over 8400 in space, while Ethereum had three long positions and one short position for a total of 434 in space!

From the current market perspective, on the four-hour level, the market has broken above the upper Bollinger Band with a “two-up, one-down” pattern, and various moving average indicators are strengthening simultaneously, indicating a generally positive market sentiment. However, it should be noted that the J value in the KDJ indicator has entered the overbought area, suggesting short-term pullback pressure. The upper range of 120500-121000 has formed a new resistance zone, and the risk of bullish momentum weakening should be heeded. If bearish sentiment breaks below the support level, it could open up further downward space. The evening's suggestion is to observe key points after a pullback and consider going long as the main strategy.

Wednesday Morning Thought Process:

Short Bitcoin near 120000, target 118500.

Short Ethereum near 3770, target 3700.

Every fluctuation in coin prices tests the human heart: some lose their composure and act blindly in panic; others remain steadfast and uncover hidden possibilities amidst the ups and downs.