Zhou Yanling: What to Do if Your Short Position is Stuck After Ethereum's Surge on July 18? Today's Latest Trend Prediction Analysis and Trading Strategy
Recently, Ethereum's surge has been the headline in the crypto world, mainly due to the influx of spot ETF funds and corporate buying. SBET, as the first company to use ETH as a strategic reserve, has purchased nearly 50,000 ETH in the past five days, surpassing the holdings of the Ethereum Foundation, with some staking already earning 322 ETH. Additionally, Ethereum's 10th anniversary celebration at the end of this month has contributed to some anticipatory emotional trading, at least to draw market attention to it.
From a technical analysis perspective, Ethereum has broken through 3480, and is currently in a short-term correction phase. The daily chart shows significant resistance around 3520. If this level is not broken by Friday, there will be a demand for a pullback on the daily chart. From the 4-hour analysis, short-term support continues to be around 3150, with short-term resistance at 3520 and long-term pressure around 3740. In terms of short-term strategy, bulls should not be overly optimistic. If you entered above 3300 recently, it would be wise to take some profits, as the surge was driven by institutional buying, which is likely to lead to some rapid pullback corrections. Therefore, short-term traders should be quick to exit. If you entered at lower levels a few days ago, you can maintain a long-term perspective and hold, as your position can withstand this temporary pullback.
Zhou Yanling's July 18 Ethereum Trading Strategy:
Buy at 3300-3350, stop loss below 3250, target 3440-3480-3510, continue to look for a breakout towards 3700.
Sell at 3500-3460, stop loss above 3550, target 3350-3300, continue to look for a breakdown towards 3160.
Zhou Yanling's July 18 Bitcoin Trading Strategy:
Buy at 116000-116800, stop loss below 115000, target 119500-120500, continue to look for a breakout towards 122000.
Sell at 120000-119000, stop loss above 121000, target around 116000, continue to look for a breakdown towards 114000.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has over ten years of experience in financial market investment research, currently focusing on analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other crypto contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, emphasizing capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing yet responsible character and sharp, decisive operations.
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