Analyst Liang Qiu: 7.31 Bitcoin/Ethereum Long and Short Positions Continue to be Taken, What Does the High-Level Volatility Aim For?

Bitcoin/Ethereum yesterday repeatedly reminded to enter around 3800 and above 118200, and below 116000 and 3700 for trading, as expected the market quickly fell and then rebounded. However, the trading didn’t capture all the space and wasn’t able to establish a pattern, but the overall trend is still good; friends at the root should be able to secure a decent space.

Currently, after a rise in the morning, the market has been consolidating, essentially a comprehensive increase in the market sentiment. Bitcoin and Ethereum have reached a high of 3878 and 119100 respectively. The upper resistance levels of 120000 and 3940 have not been touched or broken through, still under pressure. However, it cannot be denied that in the case of altcoins rising overall, the trend is indeed very strong, but considering the pressure and the lack of breakthrough above, it may be wise to look for a pullback first, paying attention to the strength of the pullback and whether the support at Bitcoin 117000 can hold again.

Trading suggestions: Enter Bitcoin around 118600 to 119200, target around 117000; Ethereum around 3870 to 3890, target around 3800, if it breaks, look at the levels of 116000 and 3750, while the upper levels are 120300 and 3940.

[The above analysis and strategy are for reference only; please bear the risks yourself. The article review and publication do not guarantee timeliness; specifics are subject to real-time conditions.]