7.14 Monday evening Bitcoin Ethereum market analysis and trading suggestions

In the afternoon, the bullish sentiment in the market continued to ferment, and the price once climbed to a high of 123300, but then encountered resistance and retraced. The current market is still in an adjustment phase, with a low point dipping to 121357. After the afternoon's fluctuations and consolidation, the bullish momentum of Ethereum was fully released, reaching a high of 3083. In the afternoon, we maintained a bullish outlook and successfully seized market opportunities: we placed a long position at 122100 and took profit at 123100, capturing a 10000-point gain; simultaneously, we built a long position in Ethereum at the 3000-point level and closed at 3065, achieving a 65-point gain.
From the current market trends, the market has maintained a steady bullish upward channel, with K-lines showing a stepwise upward trend. The MACD indicator continues to operate above the zero line, indicating strong buyer momentum. Since the launch of this round of market activity, the price has continuously broken through several key resistance levels, with no significant technical pullbacks during this period. While this one-sided upward trend is exciting, from a technical analysis perspective, any healthy upward market requires appropriate pullback confirmation of support to accumulate sufficient energy for subsequent breakthroughs. Observing the 4-hour chart, we can see that the RSI indicator has entered the overbought zone and shows signs of a top divergence, which is often a signal for a short-term adjustment. At the same time, trading volume has shown a decreasing trend during the recent upward process, indicating a weakening of market eagerness to chase higher prices. From the perspective of wave theory, we may currently be at the terminal phase of the fifth wave, with the demand for a pullback becoming increasingly evident. In terms of evening trading strategy, while the overall upward trend remains unchanged, the extent of the pullback may be limited. If the price shows a rapid drop followed by stabilization and recovery, it could be a better opportunity for bullish entry. Therefore, we maintain the strategy of waiting for a pullback in the evening, looking for a pullback before a breakthrough. If there is a strong upward movement, we will directly follow the trend to go long.
Bitcoin: Buy around 120000, short-term target 124000
Ethereum: Buy around 2980, short-term target 31500 #Launchpad首发Pump.Fun #BTC再创新高