Analysis of the 16 July Morning Strategy for Bitcoin and ETH



Reviewing yesterday’s price movement, after a surge followed by another decline, the price found significant support around 64700 and quickly stabilized. Looking at the 15-minute chart, the price has returned above the middle Bollinger Band line, indicating that yesterday’s drop was only a normal technical pullback and did not break through the overall rebound structure; the buy support below it remains effective.

The morning strategy is very clear: the market is currently in a consolidation phase. Therefore, avoid short selling and wait patiently until the price drops and confirms the support level before entering a long position.

Trading Strategy:
Bitcoin: Consider a small long position after the drop into the 64300-63800 area, targeting 65600-66100.
ETH: Consider a small long position after the drop into the 1895-1870 area, targeting 1960-1990.

----------

Follow me to get more real-time crypto market analysis and insights, and Subscribe to Membership for only 1 GT to support me. Thank you, great investors!

$BTC
$AKE
$LAB
BTC-0.81%
AKE70.31%
LAB-11.26%
View Original
post-image
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 4
  • Repost
  • Share
Comment
Add a comment
Add a comment
CryptocurrencyAnalysis
· 12h ago
Buy to generate 💎
View OriginalReply0
CryptocurrencyAnalysis
· 12h ago
DYOR 🤓
Reply0
CryptocurrencyAnalysis
· 12h ago
1000x Vibes 🤑
Reply0
CryptocurrencyAnalysis
· 12h ago
HODL Tight 💪
Reply0
  • Pinned