July 21 Evening BTC/ETH Analysis


Currently, clear high resistance is visible: after BTC touched around 66,324.2, a noticeable pullback occurred. This level forms a strong resistance zone in the short term. If it attempts another push upward but cannot effectively break through 66,324, or if after breaking it quickly falls back (forming a “false breakout”), this would be a very classic bearish signal (double top or nascent M-top shape).

Upward momentum is weakening: Observe the last few candlesticks—although they remain high, the body portion has started to shrink, and there are both upper and lower wicks.
Recommendations
BTC, do short around 66,400–67,000
Targets 64,700–65,700
ETH, do short around 1,950–1,970
Targets 1,870–1,920 #BTC
BTC1.59%
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ShortMemoir
· 7h ago
The analysis makes a lot of sense—66,400 really is near the prior high. But the crypto market can change in an instant; even a “fake breakout” can turn into a real one. Keep your position sizing under control and don’t get carried away. For the second setup, a 1,950 short, you can set a 1,965 stop-loss.
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HashrateSleeper
· 8h ago
This double-top logic is fine, but I’ll add one more point: if the retest to 65,500 holds without breaking and then rallies back immediately, that could be a bull trap. Make sure your short entries have stop-loss orders in place—don’t hold through. Also, the second leg has high volatility; the 1,950 short target to 1,900 may be hit quickly, but watch the support around 1,880. In short, operate steadily and cautiously.
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BitcoinBeacon
· 8h ago
Bro, this M-top pattern is definitely a classic, but on the hourly timeframe you still need to see if the volume can back it up—otherwise it may just end up going nowhere.
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