7.16 Chen Zhimu Midday Thoughts

Current market volatility continues to narrow, and the overall market has entered a high-level grinding and washout phase.
After the earlier surge higher ends, the long and short sides have become relatively balanced, and the chart has entered a state of repeated back-and-forth tug-of-war. In the short term, there is no one-sided upside breakout, and there is no sudden, rapid sell-off. Many people grow restless amid small-range fluctuations, can’t help but open trades frequently and keep adjusting their positions—ironically, this is exactly what makes them most vulnerable to being worn down as price action whips back and forth, eventually falling into passive losses.
From the perspective of the larger-cycle structure, the bullish trend has not been broken.
What’s happening now is simply a buildup, a period of rest within the upward trend, and a rotation of chips—that is, the switching/turnover of holdings. Don’t overpay attention to short-term market noise, and don’t let small swings dictate your timing. Be patient, wait for a pullback to hold and stabilize, and wait for opportunities with clear confirmation. Stick to the low-buy long bias; the market will eventually gradually deliver on this round of bullish expectations.
For BTC: pull back to around 64100–63600 to go long, with upside targets of 65500–66600.
For ETH: pull back to around 1890–1860 to go long, with upside targets of 1970–2050$BTC #ETH站稳1900美元