Gu Jingci: 7.21 Bitcoin/Ethereum are about to see a sharp drop

Bitcoin has surged sharply intraday to catch up, and it’s currently around 66,700. Friends with short positions can directly add to shorts here; for “yi” (Ethereum), if it’s pushed up, hold the short position patiently and wait for the market to drop further. I’ve mentioned this many times before: once “big cake” (Bitcoin) is rising, and Ethereum and most altcoins do not follow, the rise is basically close to ending. Conversely, during Bitcoin’s decline, Ethereum and the altcoins generally stay flat and don’t move much. After that, they will continue to rise. Tonight, the key focus is Bitcoin’s previous daily high around 67,300—that’s the position I’ve reminded you about multiple times. As for Ethereum, the resistance in the 1,950 to 1,980 range still looks valid. There are too many trapped positions from earlier, so it won’t easily get out.

Trading advice: If you enter a short position for Bitcoin during the daytime session, add to it at the current price 66,700; your average entry price will be around 66,200 to 66,300. Be patient and wait for the drop; the short-term target is around 64,000. For Ethereum, hold the short position at 1,930 patiently; the short-term target is around 1,850. Set stop/placement levels at 67,500 and 1,980 only; if it breaks through, it will trigger a new round of a major drop in the market.
#GUSD年化升至3.8% #事件合约上线 #ETH突破1900美元