7.29BTC/ETH Market View:
After Bitcoin surged to a high of 123,300, it entered a high-level sideways oscillation mode. The daily K-line Bollinger Bands are seriously narrowing, with the upper band opening downwards and the lower band opening upwards, indicating that the triangular convergence pattern is about to break. The MACD bearish energy continues to increase, while KDJ and RSI are turning down from high levels. The rebound high of 119,812 yesterday and the rebound high of 118,433 this morning indicate that the market has struggled to break through, suggesting a need for a pullback. Whether this pullback is a consolidation before another rise or a sign of bullish exhaustion remains to be seen.
The upper resistance for Bitcoin is at 118,500, 119,500, and 120,000; short positions can be initiated around these levels.
The lower support to watch is the daily K-line lower band support at 116,000 and last week's pullback low at 114,500. If it pulls back to these levels without breaking, we can consider long positions; if it breaks below, we will continue to look downwards. The recent market has been very volatile, so profits should be taken in batches.
Ethereum yesterday surged to 3,940 and then closed with a medium bearish candle, with an upper shadow longer than the lower shadow, indicating strong selling pressure above. The upper band of the Bollinger Bands, which had been rising steadily, is now slowing down. The MACD bullish momentum is continuously decreasing, while both KDJ and RSI are turning down after being overbought at high levels. The highest rebound this morning was 3,820, followed by a quick drop to around 3,734. The rebound high from last night was also near 3,820, so we look for a pullback today, with resistance above at 3,820, 3,900, and 3,950; short positions can be initiated at these levels.
The lower support to watch is at 3,700, 3,650, and 3,600. Long positions can be monitored at these levels while waiting for support to hold without being effectively broken; long positions can be attempted to enter.
The market has been very volatile, so managing positions with batch reductions is essential, followed by changing to breakeven stops. The midnight strategy is to go long on Ethereum at 3,750-3,730. This morning, it was advised to reduce positions near 3,800 and then change to breakeven stops, with further upward views at 3,820-3,900-3,950. If rebounds are weak and accelerate downwards, long positions should be closed for profits, and short positions can be initiated. #币安HODLer空投TREE
After Bitcoin surged to a high of 123,300, it entered a high-level sideways oscillation mode. The daily K-line Bollinger Bands are seriously narrowing, with the upper band opening downwards and the lower band opening upwards, indicating that the triangular convergence pattern is about to break. The MACD bearish energy continues to increase, while KDJ and RSI are turning down from high levels. The rebound high of 119,812 yesterday and the rebound high of 118,433 this morning indicate that the market has struggled to break through, suggesting a need for a pullback. Whether this pullback is a consolidation before another rise or a sign of bullish exhaustion remains to be seen.
The upper resistance for Bitcoin is at 118,500, 119,500, and 120,000; short positions can be initiated around these levels.
The lower support to watch is the daily K-line lower band support at 116,000 and last week's pullback low at 114,500. If it pulls back to these levels without breaking, we can consider long positions; if it breaks below, we will continue to look downwards. The recent market has been very volatile, so profits should be taken in batches.
Ethereum yesterday surged to 3,940 and then closed with a medium bearish candle, with an upper shadow longer than the lower shadow, indicating strong selling pressure above. The upper band of the Bollinger Bands, which had been rising steadily, is now slowing down. The MACD bullish momentum is continuously decreasing, while both KDJ and RSI are turning down after being overbought at high levels. The highest rebound this morning was 3,820, followed by a quick drop to around 3,734. The rebound high from last night was also near 3,820, so we look for a pullback today, with resistance above at 3,820, 3,900, and 3,950; short positions can be initiated at these levels.
The lower support to watch is at 3,700, 3,650, and 3,600. Long positions can be monitored at these levels while waiting for support to hold without being effectively broken; long positions can be attempted to enter.
The market has been very volatile, so managing positions with batch reductions is essential, followed by changing to breakeven stops. The midnight strategy is to go long on Ethereum at 3,750-3,730. This morning, it was advised to reduce positions near 3,800 and then change to breakeven stops, with further upward views at 3,820-3,900-3,950. If rebounds are weak and accelerate downwards, long positions should be closed for profits, and short positions can be initiated. #币安HODLer空投TREE
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
BTC
115,972.02
-2.09%
ETH
3,715.81
-3.81%
SOL
171.42
-4.93%