July 21 (evening)


Currently, there is clear high resistance as BTC shows a noticeable pullback after touching around 66,324.2. This level forms a strong resistance zone in the short term. If it surges again but cannot effectively break 66,324, or if it breaks out and quickly falls back (forming a “false breakout”), this would be a very classic bearish signal (a double top or an early M-head pattern).

Upward momentum is weakening: observe the last few candlesticks—although price is still above the range, the body portion has started to shrink, and there are upper and lower wicks.

Recommendation
BTC: short around 66,500–67,000
Target: around 64,700–65,700
ETH: short around 1,960–1,980
Target: around 1,870–1,920
BTC-0.59%
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LiquidationFloor
· 07-21 11:58
If it’s a fake breakout, I’m also planning to go short empty, but I need to set the stop-loss properly.
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DeFiAbacus
· 07-21 11:41
Thank you for sharing! Indeed, the upper wicks on these two candlesticks have gotten longer, and the momentum is clearly weakening. If the double-top pattern is confirmed, the short side’s win rate is quite high. I’m also monitoring the “Elliott’s second base” area in parallel.
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DCDiver
· 07-21 10:27
This analysis seems okay—let’s observe first.
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