7.21 BTC / ETH market analysis

Yesterday, BTC and ETH both traded in a choppy, range-bound rebound. In the evening session, driven by news, both surged in tandem—BTC climbed steadily to the phase high of the 65,788 level, while ETH rose and touched a high of 1,917. Overall, yesterday’s price action was a standard pattern: a rebound from a low level that pushed up to the highs, followed by pressure at higher levels and a pullback—essentially a choppy washout.

Overnight, easing Middle East geopolitical tensions briefly boosted market risk appetite, helping the crypto prices complete a round of rebound. However, after the positive news was realized, funds lacked sustained follow-through momentum. With no new incremental positive catalysts coming through, it’s difficult for the price to keep breaking above the prior highs.

From the chart, when the price surged to the top, it precisely touched the upper Bollinger Band and then pulled back. The upper band formed strong resistance pressure. The long upper wicks indicate heavy sell pressure overhead, and short-term bullish momentum has clearly weakened.

Trading suggestion: For BTC, short directly around 65,500–66,000. Targets: 64,500; if it breaks down, look below 63,800. For ETH, short directly around 1,920–1,950. Targets: 1,870; if it breaks down, look below 1,830#BTC #ETH