Market laws, twists and turns, cycles of change, internal cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable; a successful investor's story is actually a history of learning and growth. The journey may be arduous, but one must not forget their original intention to achieve success.
2024.7.22 BTC————————
On the weekly chart, Bitcoin is currently forming a continuous bullish engulfing pattern. Whether it can break through the psychological resistance level of 70,000 is the key focus going forward. On the daily chart, the continuous upward trend above 65,000 forms strong bullish momentum. As long as the price does not fall below 65,000, a breakthrough at the high level is only a matter of time. The focus going forward is on the support layout between 65,600-65,800. In the short term, attention should be paid to the upward channel on the four-hour chart, accompanied by the widening of the Bollinger Bands. The 66,200 support will continue to move upward over time. On the hourly chart, the Bollinger Bands are widening, and the price is running within the upward channel. The MACD indicator shows a bullish crossover, with increasing bullish volume, maintaining an overall bullish trend. Considering the above, it is suggested to focus on a steady pullback for Bitcoin for intraday long positions.
Pending Order:
Long at 65,800-66,200, with a stop loss of 800 points, and a target of 800-1000 points or more
(The strategy can only be used once, and the profit-taking can be arranged at your discretion)
2024.7.22 ETH————————
After the bullish engulfing pattern on the weekly chart, Ethereum has formed significant support around 3450, showing a clear bottom reversal. Although the daily chart briefly tested the 3400 level, the overall support is evident around 3460. It is worth noting that the bullish momentum on the MACD is weakening. On the four-hour chart, the Bollinger Bands are widening, and the price is maintained within the bullish channel. The support at 3470 is recommended, with resistance at the 3600 level. On the hourly chart, there is a clear exchange of bullish and bearish forces around 3480. Considering the above, it is suggested to focus on a steady pullback for Ethereum for intraday long positions.
Pending Order:
Long at 3420-3480, with a stop loss of 60 points, and a target of 60-100 points or more
(The strategy can only be used once, and the profit-taking can be arranged at your discretion)
This article is exclusively written by senior analyst Qin Chuan, who has researched the investment field of Bitcoin, Ethereum, contracts, spot trading, gold, forex, and stocks for many years. Currently, he mainly guides contract operations, with a solid theoretical foundation and practical experience. He excels in combining technical and fundamental analysis, emphasizes on capital management and risk control, and adopts a steady and decisive operating style. He is recognized by many investment friends for his amiable and responsible character, as well as his sharp and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge about candlestick charts, follow the public account: Zhao Qin Chuan.
Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operations based on this are at your own risk. Investment carries risks, so caution is advised when entering the market.
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