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🔥 7.24 Bitcoin & Ethereum Intraday Trading Ideas 🔥
📉 Market Review:
- Bitcoin (BTC) tested the support at 117200 during midnight and the bulls counterattacked, reaching a high of around 119300 in the morning but faced resistance. Subsequently, the bears exerted pressure, and the lowest retracement was at 117400.
- Ether (ETH) had a significant increase in the early stage, followed by a stronger pullback, with a daily decrease of 4%, but the overall trend remains strong.
- Yesterday's strategy was precisely validated: we indicated to buy near 117200, and the market rebounded as expected! The current pullback is still liquidating long leverage, and a long-term bullish opportunity is about to come!
📊 Technical Analysis:
- Daily level: After a large bullish candle, there are two consecutive bearish pullbacks, but the support at 117200 is strong (multiple long lower shadows). The larger cycle is still in a consolidation range and has not broken the upward trend.
- 4-hour level: After the price retraced to the middle track, it rebounded, and the triangle convergence pattern has not been broken; the bulls still have offensive momentum!
- Ethereum (ETH) is expected to retrace to the 3470-3500 range for support, and the bullish outlook remains unchanged!
🎯 Today's Strategy:
- BTC: Buy on pullback at 117200-117500, target 119000, stop loss 116500.
- ETH: Buy around 3500-3520, target 3650, stop loss 3450.
💡 Key Tip:
- The current market is still in a consolidation phase, do not chase highs or sell on lows, patiently wait for buying opportunities!
- The overall trend is bullish, and any pullback is an opportunity to get on board. Medium to long-term investors can accumulate positions in batches!