Chu Yuechen: Bitcoin (ETH) Market Analysis and Trading Reference (July 12)

Chu Yuechen: Bitcoin and ETH Market Analysis and Trading Reference for July 12th. BTC rebounded over 11% from its low of $57,813 and consolidated around 64,000. The 4-hour bullish structure remains intact, but the 67,000-68,000 range presents strong resistance. Furthermore, the MACD is approaching a death cross and the RSI is overbought, making short-term long positions unwise. ETH's short-term rebound momentum has improved, but a decisive break above 1954 (100 EMA) is needed to confirm a trend reversal. The biggest variable: Powell's speech tonight. If he releases dovish signals, BTC may test 65,000-66,000; if his hawkish stance exceeds expectations, a single-day pullback of over 5% is possible. It is recommended to control position size before the speech and wait for directional confirmation. Additionally, the renewed attacks between the US and Iran over the weekend have added further uncertainty to the market. Therefore, risk management remains crucial. For contract trading, shorting opportunities exist. We have been using 64,500 as a reference point for shorting Bitcoin in recent days, with a stop-loss order placed above 65,000. I've already given this real-time alert in the chat group, and those who shorted at this level over the past two days have seen some gains. The same applies to ETH; short positions were opened near 1800, with a stop-loss at 1850. In other words, regardless of whether it's Bitcoin or ETH, short positions should be abandoned once the key levels are broken, as it will then enter the next range mentioned above. Bitcoin support is at 62000-61000; long positions can be opened at this level, with a stop-loss below 61000. Long positions can also be opened near 1700 for ETH, with a stop-loss at 1650. This is roughly our approach over the weekend, and the strategy will be dynamically adjusted according to market changes. I will promptly notify those who follow my trades and will also communicate in the chat group. See my profile for details on how to trade together.