Crypto Market Analysis: Bitcoin Bulls Hang by a Thread on July 21! If it Falls, It May Face a Deep Correction! Ethereum Upward Trend Confirmed! What is the Next Target Price? Latest Market Analysis
Current Bitcoin price is 118800. We have found that Bitcoin is currently consolidating around 118000, so from a short-term perspective, the market is in a consolidation phase, with prices fluctuating around the critical level of 118000. The short-term market shows slight weakness but has initial signs of warming up. If the price can stabilize above the BOLL middle line, there is a high possibility of attempting to challenge the upper Bollinger Band; conversely, if it breaks below the middle line, it may continue to test the support range from 117000 to 116000. Finally, we suggest that if traders have positions, this environment is suitable for half or light positions. Short-term traders can consider looking for buying points near 117600, with a profit target set in the range of 118500 to 119200, and a stop-loss set below 117000.
Short-term Reference:
Entry for Long at 117000, with a stop-loss at 116000, stop-loss of 500 points, target at 120000.
Entry for Short at 120000, with a stop-loss at 121000, stop-loss of 500 points, target at 118000.
Ethereum
Before publishing, the current price of Ethereum is 3775. The upward trend of Ethereum continues to validate our analysis and predictions. From a short-term perspective, even though the price is fluctuating near the upper Bollinger Band, the bullish trend has not been broken. However, considering the RSI overbought signal and previous high-pressure levels, short-term prices may experience a correction or consolidation demand. Finally, we suggest that the current market is in a strong upward trend dominated by bulls, but caution should be taken regarding the risk of a correction at high levels. Aggressive investors can buy on dips near support levels, targeting the key resistance level of 3785; conservative investors are advised to wait for price confirmation of support before entering to avoid excessive chasing. If holding a position, we recommend appropriately reducing positions near resistance levels to lock in profits while setting stop-loss protection, while paying attention to the possibility of increased market volatility in the short term.
Short-term Reference:
Entry for Long at 3650, with a stop-loss at 3600, stop-loss of 30 points, target at 3750.
Entry for Short at 3800, with a stop-loss at 3850, stop-loss of 30 points, target at 3700.
Good tea is not afraid of tasting, and technology is not afraid of detailed testing $BTC