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7.27 Bitcoin sideways consolidation, Ethereum's final madness?
The overall rise of Ethereum during the weekend was quite noticeable, while Bitcoin remained in a sideways consolidation. The resistance at the upper line of the daily and four-hour moving averages is quite significant at the 118300 level, and it has been hovering around this position. If it continues to consolidate without breaking through, it will likely face further declines. Moreover, once Bitcoin stops consolidating, Ethereum and altcoins will eventually follow suit. In the case of Ethereum, it once again surged to around 3810 in the afternoon, just a line away from the daily high above. However, there is no need to chase long positions before breaking through, especially given the current divergence between Ethereum and Bitcoin. The subsequent movements will still mainly follow Bitcoin's trend.
It is recommended to short Bitcoin at the current price around 118200, with a short-term target near 116500, and if broken, look at the 115000 level; for Ethereum, continue to short at the current price of 3790, with a target of 3680, and if broken, look near 3550.
[The above analysis and strategies are for reference only, please bear the risks yourself. The article's review and publication do not have timeliness, specifics are subject to real-time.] #余币宝年化收益破24%# #Gate Launchpad IKA上线# #以太坊交易量飙升#