In the past two months, as the trade war and geopolitical tensions have eased, the market has begun to show a pattern of repeated fluctuations, but the overall trend remains bullish. I believe everyone has become accustomed to this; no matter the winds from the east, south, west, or north, I will remain steadfast. However, recently, our "second aunt" has also been heatedly discussed in the market. As the time approaches, will the favorable news of a rate cut in September be released in advance? Currently, various cryptocurrencies are moving in a direction favorable to bulls! After all, the longer the period of fluctuation, the closer we are to an explosive point, especially with the recent frequent switching between highs and lows, and the space gradually narrowing. Yan Ling believes this is a good sign. In short, whether it’s a fluctuation or a one-sided trend, since Bitcoin broke above the 120,000 mark (and Ethereum broke above 3,800), a bottom structure has reappeared within an hour, indicating that a new bullish opportunity has emerged! Regardless of how many times this bullish bottom structure has appeared before, it ultimately did not break out of the fluctuation; perhaps the one-sided trend is just a moment away, at least this signal has reappeared.
Currently, looking at the situation of Ethereum, the daily chart has formed several bullish candles recently, showing a strong upward trend. On the hourly chart, there is high-level fluctuation within the range of 3,680-3,830, indicating a certain need for consolidation in the short term. The hourly DIF and DEA are gradually retreating but remain above the zero axis, indicating weakened bullish momentum; the daily MACD red bars are shortening, possibly entering an adjustment phase. The hourly RSI is at 61.66, close to the overbought zone but not completely out, indicating short-term pullback pressure; the daily RSI remains below 70, overall still strong. The hourly price is running above the EMA7 (3,753.97), with strong short-term support; both EMA30 and EMA120 are diverging upwards. Overall, Ethereum has a short-term need for a pullback, but the medium to long-term trend remains bullish.
Zhou Yan Ling's Ethereum Trading Strategy for July 21:
Buy at 3,680-3,710, stop loss below 3,630, target 3,850-3,890, if it breaks above 3,900, look for around 3,980.
Sell at 3,980-3,940, stop loss above 4,030, target 3,850-3,800.
Zhou Yan Ling's Bitcoin Trading Strategy for July 21:
Buy at 116,500-117,200, stop loss below 115,500, target 119,000-120,000.
Sell at 121,000-120,000, stop loss above 122,000, target 118,400-117,600.
【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 Yan Ling's real-time strategies.】
The content of this article is exclusively shared by senior analyst Zhou Yan Ling (WeChat public account: Zhou Yan Ling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. He has a solid theoretical foundation and practical experience, excels in combining technical and news-based operations, emphasizes capital management and risk control, and is recognized by many investment friends for his steady and decisive trading style, along with his easygoing and responsible character.
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