Zhou Yanling: 7.22 Ethereum Focuses on Short Positions Today, Bitcoin Operates in a Volatile Range
The market has reached a critical moment; after the bullish rise, do not get too excited, as the volatility has not yet broken. Last night, Ethereum broke through 3850 but did not continue to rise, instead falling below the previous day's low of 3680. After this break, vigilance must be increased. Yesterday, the market was fearful of heights and hesitant to go long; today, it is a one-sided decline. A strong pullback in the morning adjustment indicates a pattern of adjusting first and then rebounding, or rebounding without adjustment. It seems to provide a lower entry point for long positions, but the possibility of a trap for longs is significant. The larger the pullback, the less likely it is to go long. Strong trends do not undergo deep adjustments, and deep adjustments do not indicate strength. If the price cannot regain 3770 in the afternoon, Yanling will temporarily abandon chasing long positions and instead watch for a pullback. The rhythm of the volatile market is very important; do not play it as a one-sided trend.
From a technical perspective, the daily chart shows a rapid price increase recently, forming a strong upward trend. However, from last night to this morning, there has been a noticeable pullback, resulting in a long upper shadow bearish candle, indicating heavy selling pressure above in the short term. The hourly chart shows a downward break after multiple rounds of consolidation, presenting a weak adjustment pattern in the short term. The hourly MACD histogram continues to expand with green bars, and the DIF and DEA have formed a death cross and are diverging downwards, enhancing bearish momentum. The daily DIF is gradually approaching the DEA, which may indicate a potential death cross. The hourly RSI is around 40, indicating weakness and has not entered the oversold zone; the daily RSI has dropped from above 70 to around 50, showing a weakening of bullish strength. The hourly EMA7, EMA30, and EMA120 are all in a bearish arrangement, with the current price running below all moving averages. The daily EMA7 is turning down and approaching the EMA30; if it breaks below, it will further confirm the adjustment trend. Overall, short-term operations should focus on bearish pullbacks, and once the pullback low is established, re-enter long positions.
Zhou Yanling's 7.22 Ethereum Trading Strategy:
Short at 3800-3760, stop loss above 3850, target 3670-3630, continue to look for a decline towards 3540.
Long at 3560-3590, stop loss below 3520, target 3670-3720.
Zhou Yanling's 7.22 Bitcoin Trading Strategy:
Long at 116000-116800, stop loss below 115000, target 119000-120000.
Short at 121000-120000, stop loss above 122000, target 118000-117200.
【The above analysis and strategies are for reference only. Please bear the risks yourself. The article's review and publication may have delays, and the strategies may not be timely. Specific operations should follow Yanling's real-time strategies.】
This article is exclusively shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for over ten years, currently mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV, and other cryptocurrency contracts/spot operations. With a solid theoretical foundation and practical experience, he excels in combining technical and news-based operations, focusing on capital management and risk control. His trading style is steady and decisive, recognized by many investors for his easygoing yet responsible character and sharp, decisive operations.
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