7.22 Tuesday Zhiming Evening Analysis and Recommendations


After hitting the bottom, the midday pancake faced pressure around 118000, with a drop stopping at the 116500 line, currently consolidating around 117500; Ethereum pulled back to 3650 and regained the 3700 mark.
The market is still in consolidation. Ethereum has been strong recently but needs some indicator adjustments; alternating rises and falls would be healthier. On the technical side, Bitcoin has double bottom support at 116500-116800 and strong resistance at 118600-119000; Ethereum has support at 3600-3650 and pressure at 3800-3850. In terms of indicators, Bitcoin's 4-hour MACD bullish momentum is recovering, and Ethereum's 1-hour KDJ has formed a golden cross. Tonight, attention should be paid to the initial jobless claims in the U.S. and the perpetual contract funding rate, as the long and short sides are in fierce contention.
Zhi Ming suggested
The pancake is wobbling around 118600-118100, look at the range near 120000-121000.
Around 3660-3630, look at around 3720-3750.
BTC-1.35%
ETH-1.92%
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