Analysis of the market in the morning of July 18

BTC falls back after hitting $66,000, so does it mean that the beginning of a correction trend⁉ Can it give us the opportunity to enter the market with long position?

This wave of rally really caught many people off guard. From my perspective, I expected Ethereum to rebound from 2,800 to 3,400, but I didn’t expect this rebound to come so suddenly. In fact, the main reason is that many people didn’t pay attention to the time nodes.

Since I took profit for short order at the lowest point on July 5, I have said that the market is experiencing a wide-range oscilliation, and then when this surge began, the entire market has been experienced a wide-range oscilliation for more than 10 days.

Now, as I said, the overall market of Ethereum has faced the downward pressure. There are many sell orders above 3500 since the last plunge happened after the market lured more investors to go long at 3600. There is also a pullback after ETH rebounded to 3500.

It is recommended to try to follow the trend to open tradings.

1.Go long on ETH at the first support level from 3258 to 3218.

2. Go long on ETH at the second support level from 3168 to 3068.

3. Short orders with a stop-loss have higher risks‼ At the same time, put a stop-loss for short orders placed from 3530 to 3565. #altcoins binance #ElectionCampaign