July 26 Cryptocurrency Morning Report: Beware! Bitcoin's critical line is 118,000, Ethereum is repeatedly tugging at 3,700, how many positions will this wave of market consume?

CN
1 day ago

Good morning, crypto friends! ☀️ I am Wang Yibo! Die-hard fans check in! 👍 Like for good fortune! 🍗🍗 Today, let's focus on — With the US stock market hitting new highs, after Bitcoin and Ethereum stop falling, can we get on board?

1. External markets provide confidence! US stocks hit historical highs, crypto market stops falling and warms up

Last Friday, the US stock market performed strongly:

  • The Dow Jones closed up 208 points, the S&P 500 and Nasdaq both set intraday and closing historical highs, with all weekly lines closing up;

  • Tesla rose 3.5%, Intel fell 8.5% due to production cuts, but the overall market was boosted by “strong earnings + optimistic expectations for trade agreements.”

The crypto market followed suit:

  • Bitcoin is currently priced at $117,279, up 1.35%; Ethereum is currently priced at $3,722, up 2.49%, finally stabilizing after the decline;

  • However, the contract market saw “both longs and shorts explode,” indicating that short-term volatility remains intense, and capital speculation hasn’t stopped!

2. Bitcoin: $118,000 as the "line of life and death," don’t chase blindly in the fluctuations!

Review of overnight trends:

  • After fluctuating from a low of $114,907, it peaked at $117,400 before facing pressure, currently oscillating around $117,200;

  • The daily line closed with a “hammer candlestick,” the long lower shadow indicates support below, but the bearish trend hasn’t reversed, making significant upward movement difficult.

Key signals to watch:

  • Hourly line: Fragmented upward movement hits resistance at the upper Bollinger Band, bullish momentum has exhausted, likely to fall back into a range;

  • Weekly line: Must effectively break through $118,000 to confirm a mid-term trend reversal, otherwise it’s still “difficult for a rebound to become a reversal”;

  • Trading advice: Be patient and wait for key levels (support at $114,900, resistance at $118,000), it’s safer to act when there’s a significant volume breakout.

3. Ethereum: $3,700 repeatedly tugging, high shorts after a rebound are more reliable!

The trend is similar to Bitcoin, but the fluctuations are more “grueling”:

  • From a low of $3,601, it surged to $3,728, then fell back to around $3,600, with $3,700 becoming an “invisible barrier”;

  • The daily line shows a long lower shadow bullish candle indicating buying at low levels, but the four-hour line shows “three consecutive bearish candles followed by a small rebound,” with no continuation for either side.

Technical reminders:

  • Hourly line: Although there are two consecutive bullish candles, the upper pressure is evident, bears still dominate, and the narrowing Bollinger Band indicates “space is running out”;

  • Trading strategy: Before breaking $3,750, consider high shorts when rebounding to resistance levels, with initial support at $3,600, and if broken, look for lower levels.

Final reminder: Weekend markets are prone to “low-volume fluctuations,” don’t be swayed by short-term ups and downs! Watch for the $118,000 signal for Bitcoin and keep an eye on the $3,700 level for Ethereum; maintaining a steady mindset is key to seizing big opportunities!

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If you are feeling lost — not understanding the technology, not knowing how to read the market, unsure when to enter, not knowing how to set stop losses, not understanding take profits, randomly increasing positions, getting stuck at the bottom, unable to hold profits, missing out on market opportunities… these are common issues for retail investors. But don’t worry, I can help you establish the right trading mindset. A single profit is worth a thousand words, and finding the right direction is better than repeated failures. Instead of frequent operations, it’s better to strike accurately, making each trade more valuable. If you need real-time guidance, you can scan the QR code at the bottom of the article to follow my public account. The market changes rapidly, and due to review timeliness, subsequent trends will be based on real-time layouts. I look forward to steadily moving forward with you in the market.

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