Worse pushes for “Fed” reform as the situation escalates—be cautious about chasing gains! July 10 BTC and ETH thoughts

Worse has convened Nobel Prize winners, former central bank governors, Walmart’s former CEO, and even top Silicon Valley venture capitalists, forming five “reform assault teams.” The goal is very clear: to overturn most of the operating rules that the Fed has accumulated since the 2008 financial crisis. Worse has said its priorities include: reducing the Fed’s scale of intervention in financial markets, weakening forward guidance on policy paths, and re-evaluating the statistical data methods the Fed uses to interpret economic conditions. What signal this release is sending is not yet known, but it can be confirmed that every reform will bring a particular impact to the market—so what impact the actual implementation will have on the investment market is still uncertain.

The US-Iran situation is escalating, and the Russia-Ukraine situation is also escalating, but crypto prices have not continued falling. Yesterday was just modest range trading. The short ideas I provided had the BTC shorts filled; however, the ETH shorts have not been filled yet. The earlier short positions I left have been forced to take profit after the protective “Bao Li” trailing-stop mechanism triggered, so the stop effectively closed the shorts for profit. At present, the technicals are still weak: both the highs and lows are moving downward. Although the escalation hasn’t made the coin price accelerate downward as much as I expected, it is clearly suppressing the bulls—so for the intraday rebound, you can keep laying orders on the bounce!

July 10 short ideas:

BTC: At the current price 63200-63500, continue to short. Add to the position at 64000-64500. Defend around 65500. Targets are around 62500-62000-61500. If it breaks down, watch 61000-60500-6万. If it continues to break, keep moving the stop with the “Bao Li” mechanism—take profit as conditions allow!

ETH: Continue to short on the rebound at 1760-1790. Add to the position around 1830. Defend above 1860. Targets are around 1730-1700. If it breaks down, watch 1650-1630-1600. If it continues to break, keep moving the stop with the “Bao Li” mechanism—take profit as conditions allow!

July 10 long ideas:

BTC: Buy one position on the pullback at 59500-6万. Defend around 58500. Targets are around 61000-61500-62000. If it breaks through, watch around 62500-63000.

ETH: Buy one position on the pullback at 1600-1630. Defend around 1570. Targets are around 1650-1700-1720. If it breaks through, watch around 1750-1780.

With the US-Iran and Russia-Ukraine situations so tense, under these circumstances it is extremely difficult for crypto prices to rebound strongly. Any positive news will only favor safe-haven assets and strategic assets. Therefore, if the situation escalates again, it will most likely be bullish for gold and crude oil—so everyone, be cautious about chasing gains in the crypto market!