Zhou Yanling: Bullish on the Big Cycle of the Coin Circle on July 21, with Short-term Operation Strategies Attached
Yesterday's sideways movement made me sick. I stared at it all day and there was no significant fluctuation. The entire day on Saturday, the big cake was trading sideways in the range of 66200-66900. However, we must remain cautious about any price fluctuations now, whether they are small or not. This includes the performance of breaking through 66000 in the early hours of yesterday and then immediately falling. This was a warning for those who chased the rise. Whether 68000 will be reached, some people say it's just a matter of time, but it's mostly speculation. Yanling's idea is simple: since a high-level oscillation consolidation range has appeared, we should focus on trading within the range and not worry about anything else. As long as one side breaks, it means the trend has emerged, and then we just need to follow the trend.
From a long-term technical perspective, on the daily chart level, the coin price has been running at high levels between 73900 and 53000 since March this year. Every time it approaches a historical high, it cannot stay for too long. Even if there is a valid breakthrough of the channel resistance, there will always be a sudden profit-taking pressure. However, in this cycle, the short-term bullish trend remains unchanged because the price is far away from the moving average. Any panic selling and rapid decline, or a decline in a oscillating manner, will ultimately continue to test the historical high. It's just going through the oscillation process again, consuming a lot of time. This time consumption can also be understood. If a strong one-way rise continues without stopping, the upper pressure of the rising channel on the daily chart level will soon be tested. However, this shortens the time cycle of the historical bull market. Therefore, in order to repeatedly deduce this long-term bull market process, it can only continue to consume time through downward corrections or oscillations until it reaches the upper rail of the daily chart channel, just in time to complete the next big bull market and enter a long-term turning point, stepping into a one to two-year callback period.
From a short-term perspective, although the recent rise has some driving factors from the news, the market fluctuations are not entirely dependent on them. Originally, the technical aspect has also retraced to the point where it should be a bullish counterattack. It can be seen that the current coin price is under pressure at the 67300 level, which is the trend line suppression point. So the originally expected scenario was that the price would be in the high range of 65000-68000 for a few days, then it would break through strongly, continue the one-way trend, or even go through the second stage of the trend. It is clear that there is a premise, which is that the price cannot fall below the key confirmation point of 63300. Once it falls again, it means returning to the original downward channel, and there are two possible predictions for the future trend: one is still holding the lower support of the upward channel, corresponding to the 65000 level today, and the price movement should be above the 10-day moving average, which is a key indicator of short-term strength and weakness. In the future, it will continue to oscillate upward and maintain a one-way rise. The other is that it cannot hold the lower support of the channel, and directly falls sharply, which means that the one-way rise around 53000 will come to an end, and the future will fall into a sweeping pattern similar to the previous few months, which means it will go down again, and then rely on the trend support lines of the weekly and daily charts to stabilize and start the next oscillating upward one-way channel. Two routes have been planned in the chart, and it remains to be seen whether it can hold near 65000 in the near future.
Bitcoin Operation Strategy on July 21:
- Long at 66300-66600, stop loss below 65800, target 67600-68000, continue to break through and look at around 68700.
- Short at 68400-67900, stop loss above 68900, target near 66600.
Ethereum Operation Strategy on July 21:
- Long at 3470-3490, stop loss below 3430, target 3540-3580, continue to rise and look at around 3640.
- Short at 3630-3600, stop loss above 3670, target near 3540.
The above analysis and strategies are for reference only. Please bear the risk on your own. The article's review and release may have a lag in strategy and do not have timeliness. Specific operations should be based on Yanling's real-time strategy.
The content of this article is exclusively original and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding the operation of BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other coin circle contracts/spots. If you need to know more about real-time community guidance, de-risking consultation, and chart reading skills, you can follow the public account "Zhou Yanling" for more information.
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