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 7.31 (Written at 06:30) BTC Market Analysis and Trading Suggestions:

The interest rate cut in the early morning was below expectations, causing Bitcoin to directly drop below the 116,000 level. As the bearish sentiment was released, Bitcoin bulls gradually warmed up, filling most of the downward gap. As of now, Bitcoin has once again stood above the 117,000 mark. Today is also the last day of this month, and the formation of next week's monthly candlestick will have a significant impact on future trends. The effect of this 3,000-point drop in Bitcoin is still very evident. It is quite difficult to fully recover in the morning. Referring to the previous drop, I personally prefer a bottom-seeking action after a rebound. The strategy for the day is to short on the rebound at high points, and upon retracement, confirm the second support at lower levels to enter long positions.

BTC Trading Suggestions:

• Suggest to short around 117,300-117,500, with a target of 116,800-116,500, and a stop loss at 118,000.
• Suggest to enter long on a retracement at 116,300-116,500, with a target of 117,500-118,000, and a stop loss at 115,800.

ETH Market Analysis:

Ethereum is overall quite strong, with a strong rebound after piercing the 3,700 level. The support below remains solid. The weekly candlestick shows that Ethereum has recovered last week's entity gains, and there are signs of a slowdown in the long-term bullish trend. On the daily level, Ethereum still faces the risk of divergence, and the technical retracement risk needs time to digest. Currently, the main support for Ethereum is around 3,750 and 3,700. During the day, it is essential to repeatedly confirm the strength of the support below. If the support holds, continue to enter long positions on the retracement.

ETH Trading Suggestions:

• Suggest to enter long in batches at 3,700-3,750, with a target of 3,850-3,900. If it breaks, continue to reduce positions and look for further upside, with a stop loss at 3,680.
• If the entity breaks below 3,680, do not hold long positions, and consider shorting on the rebound, targeting 3,600.

The strategies in this article may have a delay and are for reference only. Please view them rationally, and you bear the risk of profit and loss!

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