July 29 (Wednesday) morning Bitcoin and Ethereum market analysis and trading suggestions

Looking back from early morning to now, the overall price range has been small. Currently, it is still moving back and forth around 63,800. Last night, the “big head” made a downward probe, briefly dipping to the 62,600 low. The “two cakes” also synchronously hit the 1,855 area at their lowest. After bearish momentum was thoroughly released, support below gradually began to show. This morning’s early hours kicked off a rebound repair session, gradually reclaiming part of the losses.

Zhilan Shipan’s long position opened early this morning is still being held normally. Wait for the pull-up. The “big head” still has momentum for further upside. As long as support is not broken, there isn’t much room downward.

From the current trading picture, after consecutive drops, it has entered a repair phase of low-level consolidation and rebound. Daily timeframe: the Bollinger Band tracks remain relatively flat overall. After the K-line retested and tagged the lower band support area, it closed with a long lower wick. Downside momentum has slowed, and the larger structure still maintains a range-bound pattern; for now, there is no sign of launching a new round of one-way, large-scale selloff. 4-hour timeframe: the K-line formed a bullish candle with a solid body, and the market is gradually stabilizing and rebounding; short-term rebound demand is getting stronger. 1-hour timeframe: after the evening drop near the 62,500 support area, it rebounded quickly. Then it continued to close bullish and raise the swing high, lifting the focus upward to test the key 63,800 level. Once it breaks through and stabilizes, there should still be momentum for further upside. In the short term, bullish sentiment is warming up, and opportunities for rebound and repair are gradually appearing. For the short term, first catch a wave of longs looking for a rebound, and then at higher levels or near resistance, keep a tight defensive setup.

Big Cake (BTC): go long around 63,600, target 64,400 → 65,700
Second Cake (ETH): go long around 1,909, target 1,930 → 1,958
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