7.19 Bitcoin short-term will pull back, Ethereum under pressure to decline!

The Bitcoin market tested the 120,000 mark after expanding the second high point last night and was blocked again for a pullback. Currently, the key position that needs to be pulled back in the short term is around 115,000, which is the support point of the large-scale upward trend. Ethereum has a unilateral rebound, and the weekly symmetrical V reversal has formed a head pattern, still about 400 points away from the head gap of 4,100. In the short term, it will not easily touch 4,100. In the next half month, it is highly likely to consolidate and repair the lower support around 3,100 to 3,600 before making up for 4,100!

In the evening, there were frequent large sell orders from the main force in Bitcoin, raising warnings about short-term correction risks. The net outflow of the main force is significantly higher than buying, showing a clear short-selling trend. The evening market further suppresses the price's upward space. Combined with the current MACD dead cross and KDJ divergence downward signal, the short-term pullback pressure is intensifying.

Operation suggestion:

Short Bitcoin 118,000-119,000, target around 117,000-115,500. Defense 120,000.

Short Ethereum 3,570-3,610, target around 3,470-3,400. Defense 3,650.