7.23 Wednesday Afternoon Bitcoin Ethereum Market Analysis and Trading Suggestions

Don't be intimidated by the fluctuations in the crypto market; every drop is a buildup for a surge, and every rise is a dream blossoming. If you persevere, you will eventually reap your own moment of glory. The price of Bitcoin surged strongly to 120235 but failed to stabilize effectively, subsequently entering a volatile downward trend, with a daily low dipping to 118569. Ethereum's performance mirrored this, briefly rebounding to 3764 before coming under pressure and falling back, currently touching a low of 3697. We accurately predicted this wave of market movement in the morning, decisively placing a short position at 120200 and securing a stable profit at 119200, successfully capturing a 1000-point gain.
From the current 4-hour level trend analysis, a long solid bearish K-line has retreated under pressure from the upper track in the morning, and is currently receiving support above the middle track, forming a clear range consolidation pattern. This bearish line has a full body and a short lower shadow, indicating that the bears have the upper hand in the morning session. After the price touched the middle track support, a slight rebound occurred. From the smaller 15-minute chart, the price has formed a small head and shoulders bottom pattern during the pullback. If it can effectively break through the neck line after the right shoulder is completed, a new round of upward movement may begin. However, it should be noted that the KDJ indicator is still below the 50 mid-axis, indicating that the market has not completely escaped the weak pattern. We will maintain a rebound short strategy in the afternoon.
Bitcoin: Short position can be taken around 119000-119500, with a short-term target of 116500.
Ethereum: Can short near 3710-3730, short-term target 3620
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