July 17 Trading Log (11:30 AM)

1. US tech stocks bleed badly: falling doesn’t look any more “kind” than the crypto market!
Last night’s sell-off in US tech stocks and semiconductor stocks was truly no better than the crypto market—so much so that it makes people draw in a cold breath.
I originally thought the crypto roller coaster was already exciting enough, but over there in the US, when they smash the market, it’s equally ruthless. A drop of a dozen-plus percentage points in a single day is nothing unusual. In particular, those AI and semiconductor giants that were flying high before—SanDisk and Western Digital were directly pressed down by nearly 10% to 12%, and Micron and Nvidia also couldn’t hold on. With this “burst of the global AI bubble” needle going in, the panic stampede from the highs is the same: blood everywhere.
As expected—if the big leg stumbles, the crypto market can’t stay independent either. When US stocks collapse, bullish sentiment in the crypto market is instantly doused with a bucket of cold water.
2. Ethereum ($ETH ): the shorts start to gain momentum, first target 1620!
With the drag from US stocks, the “second pancake” has finally started behaving and grinding its way down from the highs.
Since the frenzy after breaking above 1836 from the past few days is now cooling off, and the high-position capital can’t support the hold anymore, our approach is very simple and straightforward this time—our target is first to see around 1620!
Brothers who were shorting with limit orders around 1947 / 1958 / 1988 should have already started enjoying running profits comfortably. Right now, the short-side momentum on the chart is accelerating its release. As long as the external macro backdrop continues to face pressure, the downside room should open up very smoothly.
Current plan: hold the short position firmly—don’t rush to hand in your chips too early on the way.
First target: see 1620 first. Once it gets there, you can consider taking some profit in batches and then keep the remaining smaller position for further downside.
Defense adjustment: to prevent “dog庄” from using malicious pin-and-retrace tactics during the crash, it’s recommended that everyone gradually move the stop-loss on the shorts down to breakeven to ensure this trade is positioned for certain success.
Today’s rambling
That’s why I’ve always believed in the power of cycles. When bulls jump around happily on low volume, as long as the external side blows a little cold wind, one slap down can be done in an instant.
It’s almost the weekend—pay close attention to the volatility in US stocks before tonight’s close, and don’t let the profits you’ve got fly away. Bring your breakeven protection—see you at 1620!
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