Good afternoon 😇! July 23 Market Report
$BTC : Trend recovery, short term still has an upward range
Yesterday, BTC continued to rise, the 4-hour structure is well repaired, successfully breaking through the descending channel. The short-term trend is upward, and a further rebound is expected.
The daily chart is still in a volatile phase, with insufficient volume, and the bulls and bears will repeatedly tug-of-war.
🔥 Trading suggestion: Pay attention to the support at 118000-118500, with short-term resistance at 120000-121000. If it can break through with volume, it is expected to start a new round of weekly upward movement.
$ETH : Emerging independent market, target pointing to 3900
ETH's performance is stronger than BTC, with a good 4-hour structure. The key is whether 3650 can effectively hold. The short-term decline is slightly fast, and the daily chart needs to consolidate; sideways movement is a healthy performance.
💥 Support level: 3600-3650, resistance at 3800-3850. After stabilizing at 3700, one can lightly follow up, targeting the 3900 level.
After BTC stabilizes, risk appetite increases, the altcoin index rises, and market liquidity returns.
The effect of the ETH ecosystem is significant, with $PENDLE showing strong performance and expected to continue rising.
Continuously pay attention to: SPK SYN DOLO C PENGU
