Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (July 24)

We repeatedly advised shorting Bitcoin/Ethereum on rallies during its recent sideways consolidation at high levels, and the price subsequently fell to around 64600 and 1860, indicating significant downside potential. Currently, the price has rebounded somewhat, providing another opportunity to short. The 4-hour chart shows recent range-bound trading, with the latest candlestick being bullish, indicating strengthening short-term buying pressure. Yesterday's daily chart showed a large bearish candlestick with a long lower shadow, indicating strong bearish momentum, but with buying support below. Today's bullish rebound has not fully recovered yesterday's losses. The monthly chart shows a large bullish candlestick since July, indicating a strong rebound at the monthly level, but it remains in a rebound phase within a long-term downtrend. Technical indicators on the 4-hour chart show both DIF and DEA above the zero line, but DIF has crossed below DEA, and the MACD histogram is negative and converging, indicating weakening short-term bearish momentum, but the overall trend remains bearish. Last month's large-volume drop on the monthly chart suggests relatively low volume this month, requiring close monitoring of subsequent volume changes. The trend remains bearish. Rebounds offer opportunities; the key is whether you can capitalize on them. Trading suggestions: Short Bitcoin at around 65700, with a target of around 64000; Short Ethereum at around 1900, with a target of 1800-1840. A break below this level could lead to further declines towards 61000 and 1730. This analysis and strategy are for reference only; please bear your own risks. The article's review and publication may not be timely; please refer to real-time updates.