Yueying: July 16th Bitcoin and Ethereum Market Analysis - Has the Upward Trend Changed? (Short-Term Strategy Included)

Bitcoin's daily chart shows a doji candlestick pattern after breaking a new high, followed by a slight pullback. Intraday trading continued the downward trend, testing the 7-day moving average. The Bollinger Bands are slightly turning upwards, with short-term moving averages aligned horizontally. The MACD fast and slow lines are moving upwards with decreasing volume. The KDJ indicator has crossed downwards; watch for resistance around the 50 level. The VR indicator is consolidating around 110. On the 4-hour chart, the price has been declining for several days, currently trading around the middle Bollinger Band at 64000. The Bollinger Bands are slightly narrowing, with short-term moving averages trending downwards. The MACD fast and slow lines are turning downwards and converging with decreasing volume. The KDJ indicator has crossed downwards; watch for support around the 0 level. The VR indicator is consolidating around 90. Overall, the market's rise and fall was in line with expectations. A short-term pullback after a new high is normal. Short-term resistance remains to be seen around the daily upper Bollinger Band and the 60-day moving average, while support is around 63,000. As long as the pullback doesn't break this short-term support, the upward trend can continue. Short-term entry points should refer to support and resistance levels. For Bitcoin, short-term suggestions are: buy at 63,500, sell at 65,500 (take profits as needed). The short position at 1938 given above on Ethereum has moved approximately 70 dollars. The overall trend is strong and relatively resilient. After breaking through the current high, it has pulled back slightly following Bitcoin. In the short term, the market needs a pullback and adjustment. The overall technical analysis of the daily and four-hour charts can be referenced in conjunction with Bitcoin's trend. Short-term resistance is around the previous high, while support is around 1800. The strategy can be continued once more. See short-term suggestions. Auntie's short-term trading suggestion: Buy at 1820, sell at 1938 (For more cryptocurrency analysis, click the image to see the homepage introduction and find Yueying). —I am Zhou Yueying, a teacher specializing in technical analysis. If you have any questions about trading or trends, feel free to discuss and learn with me! Let's exchange ideas and profit together!