Crypto Circle Liying: On July 29, 'The Short Sellers Have Arrived' for Bitcoin, Be Cautious When Buying the Dip! Ethereum 'The Air Force is Pressing', Is the Bear Market Officially Beginning?
Current Bitcoin price is 118,200. Liying finds that the current price of Bitcoin is near the middle line of the Bollinger Bands, recently experiencing fluctuations and corrections, and overall still showing characteristics of a consolidation continuation. Therefore, from a short-term perspective, Liying sees that the market faces considerable uncertainty and has entered a stage of fluctuating consolidation. The Bollinger Bands' upper and lower bands are gradually narrowing, with short-term momentum weakening; the MACD indicates a bearish momentum, and there is strong downward pressure in the short term; the EMA120 serves as an important support range, and it is necessary to pay attention to whether it can stabilize effectively. In addition, the top distribution pattern and the 'Black Three Soldiers' candlestick pattern suggest a short-term adjustment risk; it is not advisable to be overly optimistic until a strong bullish signal appears. Finally, Liying recommends primarily observing, or participating lightly, while closely monitoring the support ranges of 117,900 and 117,650. If the price breaks the support, it is necessary to be cautious of the possibility of further declines; if it stabilizes again with a corresponding volume increase, one may consider participating moderately. The current market direction has yet to become clear, and it is crucial to avoid counter-trend operations.
Price Forecast
Long Entry Point: 117,000, Add Long at 116,500, Stop Loss 500 points, Target 119,500
Short Entry Point: 119,500, Add Short at 120,500, Stop Loss 500 points, Target 118,000
Ethereum
Current Ethereum price is 3,790. Liying assesses that Ethereum has an upward trend but shows signs of correction. Therefore, from a short-term perspective, the overall market is still in an upward channel, but recent momentum has weakened, and signs of high-level consolidation are evident. The 'Black Three Soldiers' pattern and weakening bullish indicators suggest that a further short-term correction may occur. Finally, Liying advises conservative investors to reduce their positions to avoid risks and to monitor whether the price stabilizes or bounces near the support level of EMA120. Aggressive investors may consider attempting to buy at key support levels while setting stop-loss points and watching for reversal signals, such as hammer candlesticks or oversold corrections. The technical 'Black Three Soldiers' indicate that there may be continued declines in the short term, and attention should be paid to subsequent trends; previous hammer candlesticks did not form a sustained upward trend, and the reversal signal is weak.
Price Reference
Long Entry Point: 3,550, Add Long at 3,500, Stop Loss 30 points, Target 3,900
Short Entry Point: 3,950, Add Short at 4,000, Stop Loss 30 points, Target 3,750
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