Crypto Market Analysis: Bitcoin's Continuous Decline on July 26 - Safety First! Ethereum Bulls' 'Last Line of Defense' at Risk!
Current Bitcoin Price: 118,400, the market performance is currently weak. From a short-term perspective, market sentiment remains dominated by bears, with indicators like EMA, RSI, and MACD showing continued downward pressure. Although there are signs of a slight rebound in the short term, the strength is limited. If key support cannot stabilize effectively, prices may continue to test lower support zones. Ultimately, it is advised to be cautious, leaning towards a wait-and-see strategy. For bearish investors, if prices rebound to the Bollinger Band middle line at 117,500 or near EMA7 at 116,150 and face pressure again, consider light short positions. For bullish investors, it is important to patiently wait for clear rebound signals after prices stabilize at key support levels near the lower Bollinger Band or previous lows before entering the market. At the same time, strictly set stop-loss levels to control risks and avoid blindly chasing against the trend.
Price Forecast
Long Entry Point: 114,500, add long at 114,000, stop loss 500 points, target 116,500
Short Entry Point: 116,500, add short at 117,500, stop loss 500 points, target 115,000
Ethereum
Current Ethereum Price: 3,735, it is observed that Ethereum is currently in a downward trend, having retreated from a high of 3,858, and is now fluctuating between EMA7 and EMA30, while approaching the long-term support line EMA120. The short-term market performance is weak, showing typical bearish signals such as the Black Three Soldiers pattern and Top Distribution pattern, with significant downward pressure. Therefore, in the short term, the market is in a weak consolidation pattern and may continue to test the key support level of 3,600. If this level is broken, it may further drop towards the lower Bollinger Band around 3,555. Short-term resistance is concentrated at EMA7 and the recent high of 3,700, it is necessary to monitor whether these levels can be broken. Ultimately, it is advised that if holding long positions: respond cautiously and pay attention to the effectiveness of the 3,600 support. If this support is broken, it is advisable to partially stop-loss or reduce positions, and wait for clear stabilization signals in the market before taking further action. If holding short positions: consider increasing short positions moderately when rebounding near the 3,700 and 3,710 range, and take profits near EMA30.
Price Reference
Long Entry Point: 3,550, add at 3,500, stop loss 30 points, target 3,650
Short Entry Point: 3,700, add at 3,750, stop loss 30 points, target 3,600
The article is time-sensitive and for reference only; risks are to be borne by the reader. $BTC