Market Analysis (July 20)

ETH is currently trading in a narrow range between $1856 and $1895, with the medium-term downtrend remaining unchanged. Sellers dominate the market, while retail long positions are crowded, and a series of macroeconomic events are suppressing risk appetite. Key price levels: Resistance levels are at $1895 (upper edge of the range), $1905-$1910 (daily chart support/resistance level), and $1970 (strong resistance from long-term moving averages); support levels are at $1856 (lower edge of the range), $1791-$1804 (20/50-day moving average convergence), and $1709 (ultimate support for this wave). Strategy recommendations (primarily short positions): • Prioritize short positions at $1890-$1895, with a stop-loss at $1903, and a target of $1870 for partial profit-taking and $1856 for complete liquidation. • Consider a small long position at $1856-$1862, with a stop-loss at $1850 and a target of $1895 for immediate exit. • If BTC breaks above 65100 and holds firmly above 1895 with significant volume, consider going long at 1888 with a stop loss at 1875 and a target of 1905-1970. If BTC breaks below 1856 and falls below 64200, consider going short at 1852 with a stop loss at 1865 and a target of 1804-1709. Summary: Primarily shorting within the trading range; caution is advised when going long. A strong break above 1910 invalidates the short position and a long position is possible; a break below 1791 ends the rebound and a full reversal to a short position. Strategies have been provided in advance by our internal community. Real-time trading is conducted; win rates can be viewed in previous articles. For copy trading, please check my profile QQ. There are no barriers to entry for copy trading.