Chu Yuechen: Bitcoin (ETH) Market Analysis and Trading Reference (July 23)

Chu Yuechen: Bitcoin (ETH) Market Analysis and Trading Reference (July 23) The current market is in a volatile pattern with mixed bullish and bearish factors: ETF inflows and regulatory support provide downside support, but geopolitical risks, inflation concerns, and a derivatives-driven upward structure limit upside potential. The $65,000 level is crucial for Bitcoin in the short term; a firm hold above $67,000 could potentially challenge $70,000. Ethereum follows Bitcoin's fluctuations; the bullish structure above $1900 remains intact, and a break above $2000 would open up further upside potential. Large on-chain outflows are a positive mid-term signal, but whether spot demand can keep up is the core variable for the sustainability of the rebound. Regarding trading, as mentioned the night before last, shorting Bitcoin near $67,000 yielded a small profit yesterday. The market has been consolidating at high levels for the past two days. Today, we need to focus on the resistance around $67,000 and the support levels of $63,500-$64,000. For trading, consider buying on dips between $63,500 and $64,000. Ethereum is watching the support level around 1850 and the strong support level around 1800. The recommended strategy is to enter long positions around 1850, with a stop-loss below 1800. On a rebound, consider shorting around 1950, with a stop-loss at 2000 USD. This is the general idea; however, specific entry points will depend on real-time market changes. Short-term trades are offered daily, while medium- to long-term strategies continue. Welcome to discuss your views.