Market analysis and strategy sharing for July 17th

For those unsure of their direction, you can join my discussion group to discuss market trends. The group is free and open to all, with no entry barriers for copy trading. Check my profile for my QQ number. My win rate is extremely high; you can view my previous articles. Today's cryptocurrency market crash was caused by a confluence of negative factors: 1. Escalating geopolitical conflict (core): The US-Iran military confrontation intensified, Iran attacked US military bases in the Middle East, and the risk of the Strait of Hormuz being blocked pushed crude oil prices up over 9% in five days, leading to a sell-off in global risk assets. 2. Hawkish signals from the Federal Reserve: Dallas Fed President Logan called for "moderate interest rate hikes," and several officials stated that rate cuts are still far off, with the possibility of further rate hikes this year, causing a rebound in the US dollar to suppress risk assets. 3. Transmission from US stocks: TSMC's earnings report followed by better-than-expected capital expenditure guidance triggered a sell-off in chip stocks, with the Nasdaq falling 1.47%, and panic spreading to the cryptocurrency market. 4. ETH's own weakness: ETF inflows slowed, the put option ratio reached 1.61, and whales transferring ETH to exchanges increased selling pressure. In the past 24 hours, $360 million in liquidations occurred, and ETH fell from $1929 to $1848. --- II. Key Levels for ETH Strategy: • Resistance: 1870-1880 • Short-term Support: 1840-1845, if broken, look for 1820-1830 Main Strategy (Short): Sell in batches at 1870-1880, add to positions at 1890-1900, stop loss above 1910, target 1845-1855, second target 1820-1830. Secondary Strategy (Oversold Rebound): Try a small long position at 1835-1845, stop loss at 1820, target 1865-1875, quick entry and exit. Risk Management Reminder: Geopolitics dominates the market, volatility is high, please use small positions. Pay attention to the US-Iran situation, crude oil, and the Fed's statements.