July 28th short selling: Bitcoin consolidates and waits for a fall, Ethereum rollover continues to short

BTC/Daily Chart

At the daily level of Bitcoin, yesterday it first relied on the resistance of 68500 in the early morning and began to fluctuate sideways, then adjusted to around 67200 and looked up, reaching the highest level of 69400, an increase of 2200 points, and is currently in the stage of rising. Today, we will see whether it can continue to cycle and close positively. If it can stand above the 70000 mark, it can be concluded that the basic rebound is in place, then from Monday to Tuesday next week, it is expected to retest around 66900~65000. The red horizontal line of 63000 in the attached figure is the key to the long-short watershed and also the buying point.

BTC/4h chart

Bitcoin 4h level, stabilized around 67200 overnight, and has been running up to now, fluctuating and rising slowly all the way. This kind of warm water boiling frog method is easy to have a wave of accelerated upward rush tonight. If you want to follow the rise, it is not only a test of people's patience and endless torture. Maybe it is more appropriate to wait for short selling after taking a shower and resting up. If it can rush up, you should pay attention to the 70000 mark above. In short, the rebound is to continue to be bearish. Today's target resistance is 70000, and the short-term support is 68000.

BTC/1h chart

Bitcoin 1h level: It is currently in the high-level repair stage. It can be clearly seen from the figure that it has touched the high point of 63400 and has begun to show signs of correction. It is necessary to adjust in the short term. Wait for the 1h level pattern to consider this short bearish wave. The idea of ​​continuing the medium-term decline remains unchanged. In terms of operation, it is determined how to enter the market in batches and how to stop loss/stop profit. Do a good job in every link of entry.

Strategy 1: It is recommended to lightly position/short at 68700~69000, cover position at 69500, stop loss 70,000, and continue to hold at 67500~67000.

The above is personal advice for reference only. Investment is risky and trading should be cautious$BTC $ETH $BNB