Monday morning Bitcoin and Ethereum thoughts

会发光的西红柿 · 2023-07-16T23:38:43.000Z

There has been little update for you in the past half month, and many fans and friends have sent us private messages. The main reason is that the overall rhythm has not changed much. The big level around 29800-31500 has remained unchanged. In this half month In the middle of the day, we basically made plans around this position, and we gained a lot. We basically didn’t lose a single order. We went down from the high position and went up from the low position. As long as we didn’t chase the order, we could basically make an effective move. The main thing was to pull up this wave. Going to the extreme, I have said before that it will definitely take time to repair. The window period for market changes is coming this week and next week, so we will start business.

We haven't updated you all much in the past half month, and many fans and friends have sent us private messages. The main reason is that there is no big change in the overall rhythm. The market remains oscillating around the large level of 29800-31500. In the past half month, we have basically been making arrangements around this position, and we have reaped great rewards. Basically, we have not lost a single order. We have gone down from highs and up from lows. As long as we don't chase orders, we can basically control it effectively. The main reason is that this wave of pull-ups is relatively extreme. As we have said before, it will definitely take time to repair. As for the window period for market changes, it is coming this week and next week, so we have started business.
From the market perspective, the daily line continued to break high and retreat on Saturday, which is also a common trend in recent times. After the retreat, it did not effectively break the low and fell into a volatile rhythm again. From the trend structure, it can be seen that it is currently in a low-level oscillation, and the layout is still following up around the large range. There is no expectation of a rebound in the small cycle, but a low-level sideways continuation pattern after the negative line fell. At the beginning of the week, we still keep watching the retracement first, and then go long when the retracement is in place.
On Monday, the short-term focus of Bitcoin is 30400-30600 for shorts, and the target is around 29500. Once it reaches that level, you can go long based on the strength. For Ethereum, focus on 1940-1960 for shorts, and the target is around 1880#BTC #ETH .