When Lao Bao speaks, the crypto world trembles. BTC and Ether are surging explosively, it's hard to imagine that Ether has nearly a 10% rise in 24 hours, and BTC has also broken through 5%. This leaves bearish traders with no place to bury their heads; it's a real nightmare for the bearish traders' leader. However, remember that such news does not have much sustainability, so avoid blindly chasing the price. The upper pressure is at the 116400 line; if it doesn't break, go short. Currently, the price has pulled back to around 115900.

The technical indicators show that Bitcoin is forming a significant resistance zone around $116,400, with the current price of $115,900 approaching this pressure point. The 4-hour chart RSI is overbought and there is a divergence in volume and price, indicating limited upside potential. It is recommended to gradually establish short positions in the range of $116,200 to $116,400, with a stop loss set above $116,800.

If the price fails to effectively break through the resistance level, a pullback is expected towards the range of 114500-113800. It is important to note that the continuation of news-driven market conditions is insufficient and volatility has risen to a high-risk level, so it is essential to control position leverage and set strict stop-loss orders.

(The market has risks, investment should be cautious) #美联储7月会议纪要# #加密市场反弹#