Market laws, twists and turns, cycles of change, internal cultivation, external practice, the road to success is long and arduous. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable; the success story of an investor is actually a history of learning and growth. Through hardships and beautiful scenery, do not forget the original intention, and you will eventually succeed.

2024.7.8 BTC————————

Accurately grasping the short position at the high point of 58200, it has now successfully taken profit. Congratulations to friends who followed the order! Bitcoin's weekly chart shows engulfing bearish patterns, repeatedly creating new lows. The weekend's overall market belongs to a range-bound trend, with no effective upward movement in price. The dominant trend on the daily chart still favors the bearish trend, with resistance at the 59000 level. In the short term, the four-hour Bollinger Bands are beginning to contract, and the price is maintaining a range-bound downtrend, with support around 54000. On the hourly chart, the price is within a Bollinger Bands downtrend channel, maintaining an overall downtrend, with resistance below 57200 and short-term support around 55800. In summary, the suggestion for Bitcoin's subsequent rebound is to focus on short positions.

Pending Order:

Short at 57900-58400, stop loss at 500 points, target 500-800 points

(Strategy activation can only be used once, arrange profit-taking at your discretion)

2024.7.8 ETH————————

The short position at 3180 for Ethereum over the weekend did not materialize. After the weekly decline, a clear bearish engulfing pattern has formed, signaling caution for further downward breakthroughs. Currently, there are no clear signs of a halt in the downtrend on the daily chart, and the bearish sentiment continues to prevail. The resistance at the 3150 level on the daily chart remains a key focus. In the short term, the four-hour Bollinger Bands are contracting downward, with support at 2830 and resistance at 3160. Overall, the range for intraday operations can be between 2830-3160. In conclusion, it is recommended to continue shorting Ethereum steadily.

Pending Order:

Short at 3160-3210, stop loss at 50 points, target above 50-80 points

(Strategy activation can only be used once, arrange profit-taking at your discretion)

This article is exclusively written by senior analyst Qin Chuan, who has researched the fields of Bitcoin, Ethereum, futures, spot, gold, forex, and stocks for many years. Currently, he mainly guides contract operations, with a solid theoretical foundation and practical experience. He excels in combining technical and fundamental analysis, emphasizes capital management and risk control, and adopts a steady and decisive operating style. He is widely recognized by investment friends for his amiable and responsible character, as well as his decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, follow the public account: Zhao Qin Chuan.

Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Any operation based on this is at your own risk. Investment carries risks, so market entry should be cautious.

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