Tuesday, July 29

Good afternoon, everyone!

Last night, Silk Road advised everyone to pull back and go long. Bitcoin and Ether both reached their first and second support levels for a rebound. However, due to negative news coming out, we can't be too aggressive. Bitcoin rebounded near 1185-1187 and tried a few times, but if it can't break through, it's better to exit and take profits. The same goes for Ether, which has made several attempts at the 3820 level since early morning. If it can't break through again, it's time to exit long positions. Be aware of risk management, and be prepared to either reduce positions or move them to break-even.

The large pancake is once again under pressure, retracing near 1187. If it closes above this level on a smaller timeframe, we continue to look for upward movement. The targets above are 1195 and 1203. If it faces resistance and retraces, the first target is around 1174, and if it breaks down, we look at the levels near 1160 and 1150. Pay close attention to the upper and lower bounds of the daily level's consolidation range as reference.

Aunt Tai gave a buy signal near 3730 in the early morning for a rebound. Similarly, if the small level closes, it can reach around 3820. The market will first look at the two positions around 3860-3900. If it breaks through, then look towards 3920-3940. If it cannot close above, the market will pull back. The downward targets are the two support levels around 3750-3730, and if broken, then look towards 3700-3680.

The overall Silk Road recommendation is to go long on high and short on low. If you can't hold positions, opt for very short trades. Do not overthink or wait too long for entry points, and do not exit midway.
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