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July 25th Xiran Evening Market Analysis: BTC & ETH
Over the 4-hour cycle, the downtrend continues; the price keeps falling, funds keep flowing out, and the bearish trend persists. The current price is near the low point of this leg. In the short term, there is slight support, and a small rebound/repair is likely to occur. However, the rebound lacks bullish volume support, making it difficult to form a reversal. It is still defined as a rebound within a downtrend.
The trading approach focuses mainly on selling short on rebounds from higher levels, without rushing to buy the dip at low positions.
For BTC, sell short in the 64,300–64,700 range on the rebound, set a stop-loss at 65,050, and set targets at 63,600–63,300.
For ETH, sell short in the 1,878–1,900 range on the rebound, set a stop-loss at 1,924, and set targets at 1,840–1,810. #BTC#ETH