July 17 BTC and Ethereum Trading Guide: Key Levels and Trading Suggestions

In the cryptocurrency market, Bitcoin (BTC) and Ethereum have always been the focal points of attention. Below is the operational guide for BTC and Ethereum on July 17, including key level analysis and trading recommendations.

Bitcoin (BTC) intraday strategy

Key Points

- Key resistance level: 120,000 points is an important resistance level. If BTC can effectively break through and hold this level, it is expected to aim for the previous high of 123,200 points.
- Support level below: If BTC continues to operate below 120000 points, it is expected to test 116600 points. If it can hold this level, a rebound may occur; once it breaks down, further attention will be paid to 115200 points. The lower daily support levels are 112000 points and 110500 points, while the weekly support level is at 109600 points. If it can hold above 109600 points, the bullish trend may remain unchanged.

Trading Recommendations

- Shorting Opportunity: When the price is around 120000 points, consider shorting, with a stop-loss set above 120500 points.
- Long opportunity: When the price retraces to around 116600 points, you can try going long, with a stop loss set below 116200 points.

Ethereum intraday strategy

Key Point

- Key resistance level: 3430 points is the key resistance level for Ethereum. Currently, Ethereum is in the daily central range of 3100-3430 points. If it can break through 3430 points and hold steady, subsequent target price levels can look towards 3525 points, 3745 points, and 4000-4100 points.
- Support levels below: If Ethereum runs below 3430 points, it may retrace to 3150 points and 3100 points. If it can hold above 3100 points, there is a possibility of a rebound; if it breaks below 3100 points, then attention should be paid to the support at 3080-3040 points, with further support levels at 2935 points and 2915-2900 points.

Trading Advice

- Long opportunity: When the price pulls back to around 3150-3100 points, consider going long, with the stop loss set below 3100 points.

The above strategy is based on the analysis of the current price point. The cryptocurrency market is highly volatile, so it is essential to strictly control stop losses during trading and closely monitor the breakthrough or support of key price levels to flexibly adjust trading strategies.