July 28th Air Felling: Bitcoin Consolidates and Awaits Decline, Ethereum Continues to Short

BTC/Daily Chart

On the daily level of Bitcoin, it started to oscillate near the resistance of 68500 in the early morning yesterday, then pulled back to around 67200 and saw an increase. The highest point reached the 69400 level, with an increase of 2200 points. It is currently in a stage of slight increase. Today, it remains to be seen whether it can continue to cycle upwards. If it can break through the 70000 level, it can be determined that the basic rebound is in place. Therefore, it is expected to retest the vicinity of 66900 to 65000 next Monday to Tuesday. The red horizontal line in the attached image represents the price of 63000, which is a key watershed for long and short positions and a buying point.

BTC/4h Chart

On the 4-hour level of Bitcoin, it stabilized near 67200 overnight and has been oscillating and slowly rising. This gradual rise may easily lead to an accelerated surge tonight. However, wanting to follow the rise not only tests one's patience and endurance, but it may be more appropriate to wait for a good opportunity to short after resting and regaining energy. If it surges again, pay attention to the key level of 70000. In short, the rebound indicates a continued bearish view. The target resistance for today is 70000, and the short-term support is 68000.

BTC/1h Chart

Bitcoin 1-hour level: It is currently in a high-level repair phase. From the chart, it is clear that after reaching the high point of 63400, signs of a pullback have appeared. Short-term adjustments are needed, and it is necessary to wait for the 1-hour level pattern to consider shorting. The medium-term bearish view remains unchanged. In terms of operation, it is important to consider how to enter the market in batches and how to set stop-loss/take-profit points. Be prepared for every step of entering the market.

Strategy 1: It is recommended to go short with a light position at 68700 to 69000, add to the position at 69500, set a stop-loss at 70000, and target to continue holding if it breaks through 67500 to 67000.

The above is personal advice, for reference only. Investment involves risks, and trading should be cautious.

There may be a delay in posting, and the market is constantly changing. The points mentioned in the article do not serve as a basis for following orders. For more information on the market and strategies, please refer to the real-time strategy of "波段空伐"

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This article is original content by "波段空伐", with over ten years of investment experience, having handled funds at the level of tens of millions, familiar with the operation of main funds, and skilled in fund management, position control, investment portfolio, and investment mentality. Proficient in judging and analyzing the overall market trend, and well-versed in various candlestick technical tactics, wave theory, pattern theory, and indicator theory. Scan and follow the official account above for technical market learning and communication.

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