7.14, Monday, Analysis of Bitcoin and Ethereum's Afternoon Strategy!
Bitcoin has once again broken through a new high of 120,000, and Ethereum has reached 3,060. In this market, everyone says that shorting means waiting to be trapped, but it's not always the case that shorting will lead to being trapped. A short-term short position for correction should still be feasible. I've already entered a short position to give everyone a taste!
From the one-hour technical indicators, the lower bound of the price channel is moving down, and the upward recovery was just a false alarm. The bullish momentum has not transformed into bearish momentum, leading to a secondary release of bearish volume. In the short term, the market is also influenced by news but doesn't have the ability to change the rhythm. The moving averages are at low levels, making it difficult to reverse. For the upcoming strategy, we will maintain the idea of shorting on rebounds; as long as the support below holds, we will act accordingly.
In terms of short-term rhythm, on the one-hour level, the price is hovering at the mid-band after a corrective upward move, failing to continue its recovery, presenting a situation of diving through the lower band. The weak market has not effectively reversed, and the volume has shifted to release bearish entities, indicating strong demand for shorts. Although there will be a certain need for a rebound correction in the downward movement, there won't be a strong pullback. Therefore, in terms of the daily strategy, we will still conform to the daily level's correction demand, mainly shorting from high positions.
Bitcoin personal trading advice: Short around 122,700, targeting 121,700-120,700.
Ethereum personal trading advice: Short around 3,050, targeting 3,000-2,950. #BTC突破12万大关 #美国加密周 #BTC再创新高 #迷因币情绪 #MichaelSaylor暗示增持BTC $BTC $ETH
