Bitcoin
The US dollar index has broken through the 102 level, and Bitcoin has fallen below the consolidation range around 29500-29000. It has dropped to near the 60-day moving average. In the short term, the hourly trend has entered a trend divergence phase after falling below 29000, and the MACD indicator shows divergence on the 1-hour/2-hour/4-hour levels. Therefore, from the perspective of the trend structure, there is no need to be overly pessimistic. If there is a decline during the day, it is advisable to actively layout long positions in batches.
Resistance: First resistance at 29000, second resistance at 29500
Support: First support at 28500, second support at 28000
(Analysis is time-sensitive, the above suggestions are for reference and communication only, not as a basis for trading)
Ethereum
Compared to BTC's trend, Ethereum's recent trend is relatively weak. In the short term, it has fallen below the previous range of 1900-1850. The important technical support near the 1850 half-year line that has been repeatedly mentioned has been broken, indicating a technical breakdown. If there is a rebound, pay attention to the pressure at 1850, and it is expected to oscillate mainly in the 1850-1800 range during the day.
Resistance: First resistance at 1850, second resistance at 1900
Support: First support at 1800, second support at 1750
(Analysis is time-sensitive, the above suggestions are for reference and communication only, not as a basis for trading)
The daily line today rebounded after probing near the 60-day moving average at 1.13. Since the adjustment on July 17, the current hourly trend type shows a trend divergence. It is expected to pull back to the lower boundary of the original range around 1.20-1.15 again during the day.
Direction: Long
Entry: Near 1.14
Position: 1/10
Leverage: 10-20
Stop Loss: 1.25
Take Profit: 1.60-1.70
(Analysis is time-sensitive, the above suggestions are for reference and communication only, not as a basis for trading)
For more information, please search on Weibo: 乔帮主聊投资 (Qiao Bangzhu talks about investment), on Twitter: 币圈乔帮主 (Qiao Bangzhu in the currency circle), and on Telegram: 乔帮主币圈达摩院 (Qiao Bangzhu Coin Circle Dharma Institute).
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