Gu Jingci: On 7/23, BTC and ETH are range-bound at high levels, waiting for the market to drop further

In the past few days, BTC and ETH have kept reminding people to go in long above 66,700 and 1,930 to add to positions with profits and for averaging down. Many people think it will still rise. Especially after last night, when ETH pushed up again to around the 1,955 area, some people panicked: 1,930 was where you were told to enter a long; you lifted it by only about twenty-odd points and you panicked—then what were you doing? I explained clearly earlier: if ETH breaks 1,980, then that’s one thing; if it doesn’t, just hold with patience and wait for a round of a big drop. Focus during the day on the 65,000 and 1,900 zones. This has also been emphasized multiple times in the earlier period. If it continues to break down through this level, then the market will probe lower further. In the next phase, pay attention to support below at 1,720 and 61,000. For short-term support, refer to around 62,500 and 1,810. There’s still relatively more room to the downside.

For BTC and ETH longs at 66,700 and 1,930, add to positions based on profit and averaging down—hold patiently and wait for further downside.
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