Gu Jingci: After 7.21, Bitcoin/Ethereum spike up—don’t chase; a high-level move is coming

After a pullback over the past few days, Bitcoin/Ethereum have once again rebounded and surged upward. To be honest, the more this kind of market looks like it can’t fall further, the more likely a big drop will follow. In the prior phase, Bitcoin’s 66,000 and 67,200 served as a top structure that trapped a lot of positions; for Ethereum, the key trapped-asset dense zone was mainly around 1,950 to 1,980. As the market moves to here, many previously trapped positions are about to break even and exit. Once this batch of people exits at break-even, the next move is highly likely to be going short. If this level can’t break upward with increased volume, isn’t the point to let them get out and then let them profit again on a short?

At this level, it either rejects and falls— or it directly breaks through above 67,000 and 1,980, reaching the 70,000 and 2,080 levels.

Trading suggestions: For Bitcoin, go short at 65,700 directly; short-term target 64,000, medium-to-long-term target 61,000; for Ethereum, go short at 1,930 directly; short-term target 1,850, medium-to-long-term target 1,630.
#GUSD年化升至3.8% #事件合约上线 #ETH突破1900美元