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Gu Jingci: Bitcoin/Ethereum surged and then fell as expected, and further pullback is expected.

2026-07-23 16:41:21
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We've been consistently recommending short positions in Bitcoin/Ethereum for the past few days, adding to winning short positions, targeting 1980 and 67500. We've even repeatedly reminded traders to hold short positions during pullbacks after rallies. Many people started calling in after seeing their short positions at 1930 rise by about 20 points, which is frankly unnecessary. The daily chart shows a pullback, so conservative traders can take profits on some of their winning positions, while holding their initial positions and waiting for further declines. Bitcoin has fallen from 66700 to around 64700, a 2000-point drop. Ethereum is generally quite resilient, but that's okay; we'll teach you how to trade Ethereum in the next few trading days! Currently, the market is relatively slow, so it's important to focus on trend-following and capturing profits. Short-term support levels to watch are 1800-1820 and 63500, with key support levels at 1700 and 61000. Continue shorting on rallies tonight, targeting the vicinity of short-term support levels.
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