Gu Jingci: 7.24 Bitcoin/Ethereum Trading Strategy With Market Analysis

Bitcoin/Ethereum have been consolidating at high levels for the past few days. We have repeatedly warned about the “pump-and-short” and “add-on shorts” opportunities. The market then kept falling all the way to around 64,600 and 1,860, and the overall room is visible. Now the market has rebounded again, and it also once again offers an opportunity to enter a short position. On the 4-hour chart, recent price action shows range-bound consolidation. The latest candlestick is a bullish candle, indicating that short-term buying power has increased. The daily chart showed yesterday a massive bearish candle with a long lower wick, indicating strong bearish power, but with buy-side support below. Today there is a bullish rebound, but it has not yet fully recovered yesterday’s drop. On the monthly chart, from July to date there is a big bullish candle, showing a strong rebound at the monthly level; however, it is still in the rebound phase within a long-term downtrend.

Technical indicators: On the 4-hour chart, DIF and DEA are both above the zero axis, but DIF has crossed below DEA. The MACD histogram is negative and converging, showing that short-term bearish momentum is weakening, but the overall trend is still bearish. On the monthly chart, last month’s big drop came with huge volume, and the rebound volume so far this month is relatively smaller. Pay attention to how volume changes afterward. The trend is still bearish overall; the rebound provides an opportunity—what matters is whether you can take advantage of it.

Trading recommendations: For Bitcoin, enter a short directly around 65,700, targeting around 64,000. For Ethereum, enter a short directly around 1,900, targeting 1,800 to 1,840. If key levels break, continue to look down toward the 61,000 and 1,730 area. Analysis and strategy are for reference only—risk is your own. The article review and publication does not have timeliness; the real-time situation prevails! #Gate事件合约首发狂欢 #夏日创作营 #英特尔Q2营收创15年最快增速