7.18 Digital Currency Strategy: Awkward Position!
Digital Currency
Yesterday, we mentioned that BTC encountered great resistance at the 65,000 position. It went down directly to around 64,000 in the afternoon. The market began to fluctuate. After a day of correction, a lot of profit-taking was released, but the market still did not pull back in place. It is expected that it will still reach the support position in the next two days, and large funds will be able to establish a better center. The shock process is a double kill of long and short positions, which can be seen from the fluctuations around 10 o'clock this morning! Pay attention to risks!
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BTC
The bulls experienced yesterday's correction and released a lot of profit-taking. They are currently in the stage of accumulating strength. BTC has risen from around 55,000 to nearly 10,000 points. The pull-up is not small. From the 4-hour K-line, the pullback is not strong enough. It should at least reach the first support to form a more solid rising structure.
Today's operation: Still mainly long orders, pay attention to shocks and stop when you see good results.
First support: 63333 Second support: 61150
First pressure: 66219 Second pressure: 67300
ETH
The trend of Ethereum is similar to that of BTC, but now it is facing a strong resistance of 3490, so it is not like BTC that can keep going up, but fluctuates, and the trend of the second stage of the rise is not strong. In this round of rise led by Bitcoin, Ethereum gradually cannot keep up with the rhythm. The next ETF spot decision is expected to be postponed again, so even if the market rises, it is not very friendly to ETH.
Today's operation: Encountering a strong resistance level, the rising posture is not as good as BTC. You can try short orders with a small position and set a stop loss.
First support: 3359 Second support: 3280
First pressure: 3510 Second pressure: 3620
