7.22 BTC/ETH Market Analysis

Market analysis shows that Bitcoin peaked at around 119,600 yesterday, then fluctuated down to 116,700, currently maintaining a high-level fluctuation near the upper Bollinger Band at 117,300.

From the 4-hour level, the MACD is in a convergence state, indicating that the daytime is likely to continue the range fluctuation trend. In the 1-hour chart, the KDJ indicator is showing an upward opening and divergence, indicating that there is still upward momentum in the short cycle. Friends who have not yet entered the market may choose to take a light position to go long.

Looking back at yesterday's market, the performance of Ethereum perfectly matched the previously predicted levels. It reached a high of around 3,858 before facing pressure and falling back, with a low of around 3,715. Currently, the key support level is above 3,700.

Risk Warning: Be cautious of market fluctuations that may be triggered by the release of the U.S. CPI data tonight.

Trading Suggestions:

In the short cycle, a high short and low long strategy can be adopted in the range of 117,000-118,500.

When Bitcoin retraces to around 117,000, long positions can be established, targeting 118,000-119,000.

For Ethereum, long positions can be established in the range of 3,700-3,750, targeting 3,850-3,950, with a stop-loss set at 3,650.

If the support level of 3,650 is broken, one can follow the trend to short during a rebound.

The above is personal advice for reference only.

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