Crypto Warrior: Bitcoin continues to fluctuate, while Ethereum's upward momentum slows down;

CN
20 hours ago

Preface: Investment carries risks, and operations should be cautious.

Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!

Article writing time: July 22, 16:18 Beijing time

Market Information

  1. Hyperliquid whale movements: In the past hour, multiple whale contract positions have changed, mainly reducing holdings;
  2. Brazilian miners warn: Retaliatory tariffs from the U.S. could lead to a $1 billion loss;
  3. JPMorgan considers offering crypto asset collateralized loan services starting next year;
  4. South Korean financial regulators plan to implement oversight on token lending services of crypto exchanges;
  5. Federal Reserve Chairman Powell faces criminal charges from allies of Trump in the House of Representatives;

Market Review

Yesterday, we maintained a wait-and-see attitude towards Ethereum and a bearish stance on Bitcoin. Ethereum reached a new high point, with the highest point currently at 3857, while Bitcoin's high point yesterday was around 119720. Currently, Ethereum is experiencing a slight pullback, and Bitcoin continues to show a volatile trend;

Market Analysis

Bitcoin

Looking at the 4-hour chart, Bitcoin's current trend is mainly volatile. Previously, this was due to the weekly closing, but a weekly candle takes 7 days to form, so we can only judge the direction. On the 4-hour chart, Bitcoin's lows are continuously refreshing. The previous low of 115678 was tested in the morning but was not broken. If it breaks, Bitcoin will likely drop to around 113. Our recommended entry point for short positions yesterday was around 120,000, and the highest point reached yesterday was also close to that. The first target of around 117500 was achieved. The lowest point in this short-term decline was at 115865, which means the short position entry has at least gained over 2000 points in profit. Currently, Bitcoin's short-term focus should continue to be on the low point of 115678. If it breaks, it will likely approach around 113700. Those exiting short positions can consider re-entering with light positions around 118500, or wait for a break below 115678 to chase. Manage your own risk; short-term trading, manage risks, and self-bear profits and losses;

Ethereum

On the daily chart, although Ethereum formed a doji at a high position, if it were a bearish doji, it would be much safer to set up a short position here. There have been previous examples of bullish dojis at high positions. We should not rush to enter a position for Ethereum's decline; light positions can be tried, but do not add to the position. A break below 3530 would indicate the start of a significant pullback. Currently, there are large holders in the market starting to reduce their positions, increasing the likelihood of a liquidation opportunity, which raises the chances of a decline. We should continue to adopt a wait-and-see attitude towards Ethereum. Those who want to trade can try light short positions, focusing on around 3530. Manage your own entry opportunities; short-term trading, manage risks, and self-bear profits and losses;

In summary:

The upward momentum of Ethereum is weakening, and Bitcoin should focus on the short-term low point breaking;

The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!

Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;

"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cup." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto circle.

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