The script arrangement went as expected

Bulls Pausing? Bears Welcome a Brief Breather

Regarding the recent trends of Bitcoin and Ethereum, everything has been perfectly following the script. Whether it is the strong breakout above Ethereum at 4500 to 4700, the pullback after sweeping positions above Ethereum at 4730, or yesterday's market retracement aided by the release of the US PPI data, all have perfectly adhered to the critical points of the market. Moreover, considering the macro narrative's positive landing before the gaps, this also brings a brief turning point for the bears.

From the perspective of market trends, Bitcoin has currently reached new highs, providing further opportunities for bears to extend their positions on daily, two-day, three-day, and weekly trends, while only the five-day level continues to show bullish signs. Under the pressure of negative short-term data releases, along with Bitcoin reaching new highs, I am more inclined towards a new round of pullback to wash positions, reorganizing chips before embarking on another round of upward movement.

For Ethereum, with this round of Bitcoin's new highs being re-anchored, there is no need to worry too much about the previous strong upward anchoring behavior. As long as the downward targets are not overly ambitious, there should definitely be room to navigate.

Specifically for operations, Bitcoin is currently restricted at 119,000 due to short-term moving average resistance, with signs of reversal appearing in the 2/3/4/6-hour levels. Therefore, one can look to short at 119,500 as the initial position, add more around 120,500, defend at 121,000, targeting 117,500. If it breaks below 117,000, the subsequent targets would be 115,000 and 113,500. For Ethereum, it needs to be cautious; the initial position can be entered around 4,660, add at 4,720, defend at 4,750, and target 4,580, looking below 4,500 if it breaks. #美国7月PPI年率高于预期 #加密市场回调