The cryptocurrency market is full of opportunities and challenges. We need to maintain a clear mind at all times to avoid being influenced by short-term market fluctuations. It is inevitable to encounter some setbacks in the crypto space. We must understand that every difficulty we face is a stepping stone towards success. We should learn to view problems with a long-term perspective; without taking small steps, we cannot reach great distances. The road to success is destined to be winding and long!
Feiran's Cryptocurrency Analysis on July 28 (Written at 11:55 AM) - BTC Market Analysis and Trading Suggestions:
Bitcoin continues its bullish performance from early morning, with the price consistently above the 119,000 and 119,500 levels. After a failed attempt to break through 120,000 in the morning session, it slightly retreated and consolidated around 119,500.
On the daily chart, Bitcoin's solid bullish candle yesterday recovered all previous losses. Due to some resistance at the 120,000 level, Bitcoin continues to form a small doji today. The main chart indicator, the Bollinger Bands, is continuously narrowing, and both the MA5 and MA10 moving averages are moving horizontally. Both bulls and bears are once again in a stalemate, and Bitcoin has still not escaped the range-bound trend. During the day, pay close attention to the resistance at the 120,000 level!
On the 4-hour chart, Bitcoin relies on the support of the MA5 moving average and continues to test the upper Bollinger Band. The K-line pattern has formed upper shadows twice, indicating that resistance above still exists. The MACD indicator shows signs of bullish momentum increasing, and during the day, it may continue to push towards the key point of 120,000.
BTC Daily Trading Suggestions:
Sell in batches at the rebound of 120,000-120,500, targeting 119,000-118,000 with a stop loss at 120,700.
If there is a strong breakout above 120,500 on the 4-hour chart, exit the short position and consider going long on a pullback.
ETH Market Analysis and Trading Suggestions:
Ethereum's bullish momentum is very strong. Last week, it formed a long lower shadow bullish candle, and the bullish trend remains robust. Here, we mainly need to pay attention to whether there will be any divergence on the daily chart, as we should be cautious of a potential pullback after the main force pushes the price up. On the 4-hour chart, Ethereum's pullback is quite limited, benefiting from the support of the MA5 moving average. Ethereum's highs are gradually rising, and after reaching a new high last night, the bullish space has basically opened up. Considering the divergence of the Bollinger Bands, we are optimistic about Ethereum continuing to rise.
ETH Trading Suggestions:
Consider buying on a pullback at 3,830-3,850, targeting 3,900-4,000, with additional purchases at 3,800 and a stop loss at 3,780.
The strategies in this article may have a time lag and are for reference only. Please view them rationally, and you are responsible for your own profits and losses!
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