Analyst Liang Qiu: 7.27 Bitcoin Sideways Fluctuation, the Last Madness of Ether?

Ethereum showed a noticeable overall rise during the weekend, but Bitcoin remained largely in a sideways trend. The resistance at the 118300 level is quite evident on both the daily and four-hour MA lines, and it has been hovering around this position. If it continues to move sideways without breaking through, it will likely face a downturn. Moreover, once Bitcoin stops moving sideways, Ether and altcoins will inevitably follow suit. In the afternoon, Ether once again surged to the 3810 level, just a step away from the daily high above. However, there's no need to chase long positions before breaking through. Furthermore, given the current divergence between Ether and Bitcoin, the subsequent movements will primarily follow Bitcoin's trend.

It is recommended to continue to short Bitcoin around the current price of 118200, with a short-term target of around 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 around 3550.

[The above analysis and strategy are for reference only, please bear the risks yourself. The article review and publication do not have timeliness, and specific details are subject to real-time conditions.] #余币宝年化收益破24%# #Gate Launchpad IKA上线# #以太坊交易量飙升#