7.24 Is Ethereum experiencing a high-level stagnation or a peak reversal?
Currently, there are multiple adjustment candlesticks on the daily Ethereum chart. Focus on the 3860-3600 range for intraday trading; the market showed a fluctuating close on Monday. The intraday high was 3798, the low was 3616, and it closed at 3746, forming a long lower shadow doji which, combined with the doji from Sunday’s high and pullback, creates a high-level propeller combination.
The peak signal indicates a recent slowdown in upward momentum, aligning with our short-term outlook on the market from yesterday; the strong resistance area at 3800-3900 is facing some pressure; a pause in the continuous upward trend is expected, leading to adjustments and pullbacks; short-term trading can consider high shorts below 3850; try to enter near 3800 to look for short signals in smaller cycles. For friends who are not satisfied with recent market operations, consult btc0796 to find me and discuss the market together.
Trading suggestions:
For Bitcoin, short at 118500-119000, target around 117000-115000. Stop loss at 119500.
For Ethereum, short at 3660-3700, target around 3600-3500. Stop loss at 3740.