Zhou Yanling: Beware of the Coin Circle's Water Jump on Black Friday, July 19th Latest Trend Analysis and Strategies
Bitcoin is still doing well for the bulls, but it has also consolidated its support at 62300. If it can reach this level again on Friday, there will likely be countless buyers. However, I won't rush to buy, because in Yanling's view, the next market trend is filled with bearish signs. The challenge is to determine at which point the market will turn bearish. Failing to seize the opportunity could easily lead to missing out on the decline.
The recent pullback probably left many chasing the rise empty-handed, but everyone has a different view of this decline. Some say it's just a pullback in the uptrend, considering that it has already risen so much. It's normal to have a pullback near 66000, and the next step is likely to continue to rise. Others say it's simply a washout action to make the chasers retreat and to clear out the bears who want to short at high levels, then launch a counterattack at 66000, which is likely to break through today. Some see this as a signal of a peak, with the appearance of selling indicating that the bullish buying intention is not as crazy as before. It's unlikely to see 66000 in the short term, and it's likely to enter a periodical pullback.
In any case, the above three points are the current controversies in the market. A 3000-point drop is not enough to cause serious harm, so the bullish enthusiasm in the market is still normal. However, Yanling wants to say that even if there is a 6000-point drop, the market is still in a bullish trend. You cannot ignore this selling attitude. Even if I have to say something unpleasant, Bitcoin has been in a bullish trend for the entire first half of this year. Why are there so many people being swept out? You cannot change the trend, but each wave of rise and fall is directly related to you. Yanling is not certain now, but only knows that the price of the coin can go short, and what kind of attitude to take when going short. It is always necessary to be prepared for a retreat, with risk control as the top priority and stability as the first priority.
Bitcoin Strategy for July 19th:
- Short at 64400-63900, stop loss above 64900, target 62800-62300, continue to break below to around 61700
- Long at 62300-62800, stop loss below 61800, target 63500-64000
Ethereum Strategy for July 19th:
- Short at 3460-3420, stop loss above 3500, target 3350-3320, continue to break below to around 3230
- Long at 3230-3270, stop loss below 3180, target 3320-3370
[The above analysis and strategies are for reference only. Please bear the risks on your own. The article's review and release may have lagging strategies and lack timeliness. Please refer to Yanling's real-time strategy for specific operations.]
This article is exclusively authored and shared by senior analyst Zhou Yanling (WeChat public account: Zhou Yanling). The author has been engaged in financial market investment research for more than ten years, mainly analyzing and guiding BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other coin circle contract/spot operations. For more real-time community guidance, de-risking consultations, and chart reading skills, please follow the public account "Zhou Yanling" of the teacher.
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