Market Analysis for July 19

$BTC $ETH Today, as the first trading day of the weekend, the overall market experienced a slight dip in the early morning, touching a low of 116788 before rebounding slightly. So far, the price movement has been relatively slow, primarily operating in a range-bound manner. Currently, Bitcoin's price is around the 118000 mark. The bullish outlook given in the early morning has once again been validated. For Ethereum, the tug of war between bulls and bears remains intense, with the market oscillating back and forth, making it difficult for either side to maintain an effective trend. After hitting a low of 3476 in the early morning, it has rebounded, and the current price is around 3550.

From a technical perspective, the weekend often shows characteristics of decreased trading activity and reduced capital participation, making it easier for prices to get stuck in a sideways consolidation pattern. From the candlestick patterns, it is likely that a range will be established around the key support and resistance levels formed recently, with weak momentum for breaking through the upper and lower bounds. The forces between bulls and bears are tending toward balance, with a high probability of small bearish and bullish candles alternating, lacking a clear trend guidance. The MACD may fluctuate slightly around the zero axis, with limited height in the red and green bars alternating, indicating insufficient momentum; the RSI indicator is likely to run in a neutral range of 40-60, making it difficult to effectively release signals of overbought or oversold conditions, further confirming the pattern of consolidation. It is recommended to primarily engage in high selling and low buying within the range, paying attention to the pressure strength at the upper boundary of the recent consolidation range and the effectiveness of the support at the lower boundary. Each entry should strictly set stop-loss orders outside the range to cope with potential risks from sudden extreme market conditions. Additionally, be cautious of the potential uncertainties in weekend news and manage positions to enhance operational flexibility. Engage in high shorts and low longs while reasonably controlling position sizes.

Short positions can still be made around 3580-3600, with a take-profit target at 3480-3450 #GENIUS稳定币法案 #特朗普施压鲍威尔 #山寨季何时到来？ #币安HODLer空投C #比特币巨鲸动向