Jiangfeng Capital: July 16 BTC/ETH Market Evening Report | Under Pressure Confirming Shorts Will Welcome a Second Spring Soon?

CN
1 hour ago



"Jiangfeng Trading Diary" Issue Six: The market does not reward stubborn people; it only rewards those who can correct their mistakes in a timely manner.

The fifth article of the day mentioned a short position near 65500 for Bitcoin, which only rebounded to around 65000 at most, failing to provide an entry opportunity. The short position near 1950 for Ethereum only rebounded to around 1930, similarly failing to provide an entry opportunity. So let’s be a bit aggressive in our thinking tonight!

The short position for BTC at 65400 yesterday and the short position for ETH between 1910 and 1937, with the first target achieved and reduced positions, can continue to be held!

First, today’s viewpoint: Mainly short on rebounds; risk index 🌟🌟🌟☆☆

Bitcoin: Short around the rebound between 64700 and 65400, first target focus on (63700 to 63300), second target 61800, third target around 60800 to 60000

Ethereum: Short around the rebound between 1907 and 1935, first target focus on (1850 to 1830) nearby, second target (1750 to 1730), third target (1700 to 1680) nearby

At the current price, it is not recommended to directly enter short positions, as the current position has just touched short-term support. Therefore, patience is still needed to wait for a rebound before entering short positions. The logic for the evening is not to elaborate too much; from the charts, it is clear that Bitcoin around 64600 is an important resistance level from earlier. If the price breaks above this due to the easing of inflation, and now the price is falling below here again, I believe this resistance is effective! The daily EMA55 moving average at 65500 is significantly under pressure; if it does not break, bears may hope for a second spring!

"Jiangfeng Trading Diary" records market judgment in the sixth issue: Persistently make anticipations in advance, if the direction is correct, review it, if the direction is wrong, admit the mistake and earnestly summarize, always playing with the real! Hope to stick to 10 issues, after 100 issues, to publicly write a review summary, publicly calculate the win rate, and everyone is welcome to supervise!

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