Chu Yuechen: Bitcoin (ETH) Market Analysis and Trading Reference for July 17th

Chu Yuechen: July 17th Bitcoin and ETH Trading Reference. Short-term drag from US stocks and geopolitical pressures have caused BTC to encounter resistance above 65,000 and retest lower support levels. 63,000 is the first line of defense; if it breaks, watch for strong support at 61,000-61,500. ETH is showing weakness; pay attention to support at 1850 and 1750. The four-hour chart shows an overall bearish trend. For Bitcoin, consider shorting at 64,800-65,000, with a stop loss at 66,000 and a target of 63,000. If it breaks below 63,000, continue shorting, targeting 61,500-61,000. For ETH, consider shorting around 1900, with a stop loss at 1960 and a target of 1800-1750. For long positions, Bitcoin should remain around 61,000-61,500, and ETH around 1750. Long positions should be entered only when given an opportunity. If the entry point is too high, it will be difficult to set a stop-loss. I will promptly remind those following my trades. In short, Bitcoin is currently fluctuating widely between 61,000 and 65,000, and this 4,000-point range is unlikely to be broken in the near term. ETH is between 1,750 and 1,950. When trading, we should try to place long and short orders near the highs and lows to minimize risk.