Market laws, twists and turns, cycles come and go, internal cultivation of the mind, external cultivation of actions, the road ahead 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 lead to 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 achieve the ultimate goal.

2024.7.5 BTC————————

The price of Bitcoin continues to plummet, with an early quote of around 57,000. The bearish atmosphere on the daily chart continues to prevail, and the current market conditions are not suitable for contract operations. Therefore, Qin Chuan suggests that for the next three days starting from Friday, it is better to observe more and operate less. In the short term, the four-hour chart shows a continued Bollinger Bands opening downward, with some signs of bullish divergence at the bottom, and there may be further probing towards the 54,500 level. On the hourly chart, the price is under pressure after moving out of the middle track, and once again falls below the previous low, forming a new round of decline. In summary, it is suggested to continue to observe and hold a short position for Bitcoin, and to be aggressive in shorting during a rebound.

Pending Order:

Short at 58,200-57,600, with a 500-point defense and a target of 500-800 points

(The strategy can only be used once, and the placement can be arranged at your discretion)

2024.7.5 ETH————————

Ethereum also experienced consecutive days of flash crashes on the daily chart, forming a strong bearish engulfing pattern. There are no longer any significant support levels for long positions below. Due to the continuous decline in prices, although the selling pressure is constantly decreasing, the current resistance level worth noting, in Qin Chuan's personal opinion, is around 3,180. In the short term, the four-hour chart shows a Bollinger Bands opening downward, and after touching the 3,040 level, there is a certain degree of rebound. The current price is trying to stabilize around 3,100, forming a new support and resistance level at the high of 3,210. In conclusion, it is suggested to continue to observe and hold a short position for Ethereum, and to be aggressive in shorting during a rebound.

Pending Order:

Short at 3,210-3,180, with a 50-point defense and a target of over 50-80 points

(The strategy can only be used once, and the placement can be arranged at your discretion)

This article is exclusively written by senior analyst Qin Chuan, who has been researching the investment field of Bitcoin, Ethereum, contracts, spot, gold, foreign exchange, and stocks for many years. Currently, he mainly guides contract operations, with a solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control, and has a steady and decisive operating style. He is recognized by many investment friends for his amiable and responsible character and decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlestick charts, please 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 be cautious when entering the market.

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