Preface: Investment carries risks, and operations should be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only, welcome to read!
Article writing time: July 10, 21:24 Beijing time
Market Information
Glassnode: The recent rise in Bitcoin is driven by the entry of bulls, with open contract positions rising simultaneously;
BiyaPay analyst: Bitcoin hits a new high, this time it's an institutional bull, with 125 listed companies holding 847,000 Bitcoins;
Musk: Grok is about to land on Tesla cars, no later than next week;
Goldman Sachs: The dollar may trade again as a "high-risk" currency;
Glassnode: Ethereum's futures trading volume has rarely exceeded Bitcoin in the last 24 hours;
Market Review
Bitcoin has reached a new high as we expected, with the highest point so far at 112,036, setting a new record. Ethereum has also reached a peak of 2,822, breaking through resistance;
Market Analysis
From the daily chart, after Bitcoin broke the previous high, it did not form a long upper shadow. The daytime trend showed slight fluctuations. Although the previous high was broken again, the higher the price, the higher the cost of pulling up. Personally, I believe the price will not have a significant increase, but currently, there is no short signal, so there is no rush to lay out short positions. It is advisable to wait until the daily close before making arrangements. If it closes bearish, one can enter short directly, targeting around 107,000. If it closes bullish, then go long, targeting around 113,000, with a stop loss not exceeding 1,600 points based on the entry point. Manage your own entry opportunities; for short-term trading, control risks and manage profits and losses yourself;
Ethereum:
From the daily chart, although Ethereum broke the 2,750 resistance level, the short-term high of 2,879 was not broken. The trend of Ethereum is also showing a tendency to form an upper shadow at a high position. Pay attention to the daily close tomorrow morning; if it closes bearish, enter short directly, targeting 2,550-2,450. Conversely, if it closes bullish, go long near 2,750, targeting around 3,000, with a stop loss not exceeding 70 points based on the entry price. Manage your own entry; for short-term trading, control risks and manage profits and losses yourself;
In summary:
After Bitcoin's rise, no short signal has been given, so wait for short-term entry opportunities;
The article is time-sensitive, be aware of risks, the above is only personal advice, for reference only!
Follow the WeChat public account "Crypto Lao Zhao" to discuss the market together;
"In life, one should enjoy to the fullest, do not let the golden cup face the moon empty, cook sheep and slaughter cattle for joy, one must drink three hundred cups at once." Always retain Li Bai's boldness, "Cen Fuzi, Dan Qiu Sheng, let’s drink, do not stop the cup." Always have brothers with whom you can talk about anything. Cheers to life, cheers to the past, keep it up, every person in the crypto circle.
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