7.22 Bitcoin Retracement Alert ⚠️ High pressure persists, overbought signals frequently appearing, beware of a plunge.

Since Bitcoin's recent rise to a high of 123200, the intermediate fluctuations have formed a secondary high point at 121000. These two high points have temporarily created a short-term descending trend pressure, which has now reduced to around 119200. The current position of 118700 is already very close to this pressure. If this short-term trend faces resistance again, the market is expected to fill the trend support of 98000~107000 in the short term, with that support raised to around 115300!

From Ethereum's technical perspective, there will not be a short-term test of the 4100 mark. This wave has risen from the last retracement at 2100 to the current high of 3800, ignoring the strongest triple pressure at 3500 in the straight rise. The lower moving average indicators are lagging behind, making it difficult to continue rising. When the price approaches 4100, it is highly likely to break through. In that case, it will continue into a one-sided trend. However, considering the current emotional phase, a one-sided trend at this point is meaningless. Therefore, in the next half month to a month, there will be space of several hundred points from 3800 to 4100, waiting for a retracement to repair support before looking at 4100! In the short to medium term, a retracement to 3150~3300 is expected. For friends who are not satisfied with recent market operations, consult btc0796 to connect with me and discuss the market.

Operational Suggestions:

Short Bitcoin at 118000-118500, target around 117000-115000. Stop loss at 119500.

Short Ethereum at 3780-3820, target around 3680-3580. Stop loss at 3870.