This article is published under "Market Analysis" at KTX Crypto Academy and is based on the official Web3 market livestream by Baize Academy at KTX Crypto. This session focused on spot accumulation plans for BTC and ETH after a pullback, the management of current BTC and ETH short positions, adjustments to the gold strategy, and trade reviews covering crude oil, SK Hynix, and SNDK. Instructor Zeyu also explained position management, profit-taking, trading psychology, and market liquidity in range-bound conditions.
Instructor: Zeyu
Livestream Platform: Official KTX Chinese Lark Community
Livestream Date: July 22, 2026
Core Topics: BTC spot plan at 62K-63K · ETH accumulation at 1600-1700 · BTC/ETH short management · Crude oil short at 88-92 · SK Hynix and SNDK trade reviews · Trading psychology and liquidity
Full Livestream Replay:
The full KTX Baize Trading Academy Web3 market livestream has been uploaded to YouTube.
Key Takeaways
- The market remains range-bound with low liquidity. BTC often moves only around $500 in a day, so traders should avoid chasing either longs or shorts.
- If BTC pulls back to around 62,000-63,000, approximately 20% of the planned spot position may be opened.
- If ETH pulls back into the 1,600-1,700 range, approximately 20% of the planned spot position may be opened.
- The BTC short shown during the livestream had an average entry near 65,940, with the first take-profit level around 65,000. If BTC rebounds further, another short setup may be reassessed near 70,000.
- The ETH short shown during the livestream had an average entry near 1,920.8, with 1,980 serving as the next area to watch for adding to the short.
- The previous gold short has been fully closed. No new short is recommended at the current level; wait for confirmation at a higher resistance zone.
- The crude oil short plan uses 88-92 as the entry range, 94 as the stop-loss, and 82.5 and 79-80 as the target areas.
- Profits have been taken gradually on the SK Hynix short. SNDK has not followed technical structures consistently and will not be treated as a priority asset going forward.
- After approximately three consecutive stop-losses, traders should pause and recover their mental state before returning to the market.
Key Questions From This Session
- Why were the BTC and ETH spot plans adjusted from waiting for a much deeper bottom to opening an initial 20% position after a pullback?
- How should the current BTC short be managed, and what do the 65K, 70K, and 73K levels represent?
- Why should traders avoid chasing ETH above 1,900 while preparing to buy spot ETH at 1,600-1,700?
- How should the stop-loss and take-profit levels be set for the crude oil short at 88-92?
- How should profits be taken gradually on the SK Hynix and SNDK shorts?
- How can traders avoid repeated stop-losses and emotional decisions in a low-liquidity, range-bound market?
- Why does continued growth in the crypto market depend on new capital inflows?
1. Overall Market View: Low-Liquidity Consolidation Continues, but Spot Plans Should Be Prepared in Advance
Instructor Zeyu believes that the market's main characteristics remain weak liquidity and poor trend continuation. BTC often moves only around $500, or less than 1%, in a day. Long positions may briefly become profitable before the market pulls back, while short positions can quickly lose unrealized gains if profits are not secured before a rebound.
The short-term approach therefore continues to follow two principles:
- Do not go long without a pullback, and do not go short without a rebound.
- Do not chase longs or shorts. Wait for price to reach the planned area.
A clearer market direction may gradually emerge toward the end of the month or in early August, but it is still too early to assume that the next major move must be upward or downward. What needs to change now is the spot plan. The previous strategy was to wait for a much deeper bottom, but the market has absorbed risk through an extended period of consolidation. The probability of an extreme decline is decreasing, so an initial spot position should be established during the next meaningful pullback.
2. Bitcoin (BTC): Managing the 65K Short and Preparing a 62K-63K Spot Plan
2.1 Current Short Position Review
The BTC perpetual contract short shown during the livestream had an average entry of approximately 65,939.8. Instructor Zeyu considered the entry slightly early, but it was still based on several clear factors:
- The daily chart remains capped by a descending channel.
- Historical resistance has appeared repeatedly around 65,655, 66,522, and 67,000.
- The recent rebound lacks sufficient liquidity.
Current management plan:
- The first take-profit level is around 65,000.
- If BTC continues to rebound, the original plan is to reassess short entries gradually in the 68,000-71,000 range.
- On the higher-timeframe Fibonacci structure, the 0.5 level is near 70,000 and the 0.618 level is above 73,000. A small short may first be considered around 70K if the setup is confirmed.
- If price does not rebound into the higher range, do not chase the short. Wait for a pullback and then reassess spot accumulation or long opportunities.
2.2 Why Was the Spot Plan Adjusted?
The previous plan favored waiting for BTC to reach 45,000-52,000, or even lower in an extreme scenario. However, the market has remained range-bound for an extended period since early June, making the previously expected deep bottom increasingly uncertain.
The revised BTC spot plan is:
Reference Zone: 62,000-63,000
Initial Allocation: Approximately 20%
This does not mean that 62K-63K must be the final bottom. The purpose is to establish a base position first. If the market continues to decline, additional spot positions can be added gradually according to the plan. Spot positions do not carry the same liquidation risk as leveraged contracts and can use time to absorb volatility, but the total allocation must still be planned in advance to avoid entering with a full position at once.
3. Ethereum (ETH): Watching 1,980 for an Additional Short and 1,600-1,700 for Spot Accumulation
ETH has shown relative strength among major cryptocurrencies. Since breaking above 1,700 on July 3, its lowest pullback has been only around 1,715, and the deeper correction previously expected has not occurred.
3.1 Current Contract Strategy
The ETH perpetual contract short shown during the livestream had an average entry of approximately 1,920.8. The short-term strategy is not to chase ETH above 1,900, but to continue following the rhythm of shorting after rebounds and looking for longs after pullbacks.
- Around 1,980 is the next area to watch for adding to the short after a rebound.
- Higher resistance may be watched around 2,090-2,250.
- Do not force an additional entry before price reaches the planned area. Good setups require patience.
3.2 The Spot Plan Was a Major Focus of This Session
The previous strategy favored waiting for ETH to fall below 1,500, or even into the 1,100-1,400 range. However, as consolidation has continued and ETH has remained relatively strong, the probability of an extremely deep correction has decreased.
The revised spot plan is:
Reference Zone: 1,600-1,700
Initial Allocation: Approximately 20%
If ETH enters this range, an initial spot position may be established. If the price continues to decline, additional purchases can be made gradually at lower levels. Leveraged ETH longs still require clearly defined stop-loss conditions and should not simply copy the spot accumulation strategy.
4. Gold: Previous Short Fully Closed, Waiting for a Higher Resistance Zone
Instructor Zeyu has fully closed the previous gold perpetual contract short. Gold once declined to above 3,900, but the subsequent rebound gained strength, reducing the certainty of continuing to hold the short.
With the current price around 4,129, chasing another short is not recommended. If gold rebounds above 4,300 into a major resistance area, the descending trendline and candlestick reaction can be used to reassess whether a new short opportunity exists.
This review highlights an important principle: even if the original entry was favorable, the position should be adjusted when the market structure changes. Previous unrealized profit is not a reason to hold on indefinitely to an outdated view.
5. SK Hynix: Taking Profits Gradually on the Short From 1,322
The SK Hynix perpetual contract short had an average entry of approximately 1,322. Price was capped by a descending trendline and later declined toward 1,250, broadly confirming the original direction.
The position management plan is:
- Approximately 20%-25% of the position has already been closed near 1,250.
- Around 1,220 corresponds to the Fibonacci 0.618 level, where another 20% may be closed.
- The remaining position can continue to track whether the descending trendline remains effective.
Even if the structure remains bearish, profits should still be secured after a sustained decline. Recent markets have shown poor continuation, making gradual profit-taking more practical than expecting the entire trend to complete in one move.
6. SNDK: Short Position Pulled Back, but the Asset Is No Longer a Priority
The SNDK perpetual contract short had an average entry near 1,555. After the entry, price briefly rose above 1,600 before falling back to around 1,520.
Take-profit reference levels:
- First target: 1,485
- Second target: 1,435
Instructor Zeyu emphasized that SNDK has recently shown high volatility and often fails to follow conventional technical structures. The current position can still be managed according to plan, but after this trade is completed, no new SNDK setups will be prioritized or recommended for the time being.
7. Crude Oil (CLU): Short Plan at 88-92, Targeting 82.5 and 79-80
The crude oil perpetual contract rebounded from approximately 67 to 88, gaining more than 30% and entering an area defined by a descending trendline and Fibonacci resistance.
Crude oil short plan:
- Entry reference: Scale into a short between 88 and 92
- Average entry shown during the livestream: 88.14
- Structural stop-loss: 94
- First take-profit target: 82.5
- Second take-profit target: 79-80
During the livestream, price had already declined to approximately 86.7. Traders concerned about giving back profits may consider moving the stop-loss to around 87.6-87.7. If price rebounds without triggering the structural stop, the position can still be managed gradually according to the original plan rather than expanding risk at the last minute.
8. HYPE and ZEC: Observe the Structure Without Forcing a Trade
During the Q&A, Instructor Zeyu briefly discussed HYPE and ZEC. He clarified that neither asset is currently among his main research priorities, so traders should not open positions based solely on a brief comment made during the livestream.
From a technical perspective, HYPE remains weak. If the current support fails, another accelerated decline may follow. Without a clearly defined entry, stop-loss, and take-profit plan, observation is the better approach.
The purpose of this discussion was not to issue a new trade signal, but to emphasize that analyzing too many assets can dilute attention. Traders can simply avoid instruments they do not understand well.
9. Trading Lessons: Manage Your Mental State Before Managing Your Position
9.1 Pause After Approximately Three Consecutive Stop-Losses
After roughly three consecutive stop-losses in the same direction, traders can easily fall into emotional decision-making. They may repeatedly try to call a top as the market rises, then chase another short after being stopped out, turning one incorrect judgment into a series of losses.
A better response is to stop trading for one or two days, step away from the screen, and redirect attention through exercise or other activities. Return only after the mind is clear enough to reassess the market objectively, rather than trying to recover the loss immediately.
9.2 Secure Profits Promptly in a Range-Bound Market
The current market lacks continuation. Rallies often reverse, while declines are frequently followed by rebounds. Unrealized gains can still disappear before a position is closed; only realized profit is actually secured.
The more suitable approach in the current environment is:
- Take partial profits when the first target is reached.
- Use a trailing or adjusted stop on the remaining position.
- Do not give up existing profits solely in the hope of a larger move.
9.3 Spot and Futures Require Different Logic
Spot positions do not have a liquidation price. Traders can use a longer holding period and gradually reduce the average cost through staged purchases. Futures positions involve leverage and liquidation risk, so strict stop-losses are required. A long-term bullish view is not a valid reason to hold a leveraged position indefinitely.
9.4 It Is Acceptable to Avoid Unfamiliar Assets
An asset with distorted technical structures, extreme volatility, or insufficient research may not be worth trading even if it appears to offer many short-term opportunities. Trading more assets is not necessarily better. It is more important to stay within a set of instruments that can be followed and understood consistently.
10. Market Liquidity: Why Has Crypto Trading Become More Difficult?
In the second half of the livestream, Instructor Zeyu discussed the capital dynamics behind crypto, gold, and U.S. equities.
For the crypto market to rise sustainably, it still depends on new capital and new participants. Early holders, miners, and low-cost investors may generate substantial returns, while late-stage bull-market buyers, high-leverage traders, and participants who buy altcoins near their highs often absorb the largest losses.
Without a continued inflow of new dollars, stablecoins, and investors, the market gradually becomes an internal contest among existing participants. Trading volume falls, and trends become harder to sustain.
Gold is mainly supported by safe-haven demand and expectations of currency depreciation, but it does not continuously generate cash flow. U.S. equities, by comparison, are supported by corporate earnings. The capital logic behind these three asset classes is therefore different.
From a macro perspective, the extended period of monetary easing from 2009 to 2021 provided ample liquidity for risk assets. Since 2022, higher interest rates and increased funding costs have reduced the number of participants willing to take exposure to high-risk assets. This is one of the key reasons liquidity in the current crypto market remains weak.
11. Core Trading Principles
- Do not chase longs or shorts in a range-bound market. Wait until price reaches the planned area.
- During the next meaningful BTC and ETH pullback, begin with an approximately 20% spot allocation rather than entering with a full position.
- Spot positions can be accumulated gradually, but futures positions require strict stop-losses. These two approaches must not be mixed.
- Pause after approximately three consecutive stop-losses and address your mental state before trading again.
- Unrealized profit is not realized profit. Take partial profits proactively when targets are reached.
- Assets that are unfamiliar or do not follow reliable technical structures can be avoided entirely.
- Market views must change with time, price, and liquidity. Do not remain attached to an outdated plan.
12. Livestream Resources and How to Join
Users who have not yet joined the official KTX Lark community can scan the QR code shown in the upper-right corner or at the bottom of the livestream. The community shares daily market views, livestream notifications, strategy reviews, and related events.
This article is based on the official KTX Baize Academy Web3 market livestream. All market analysis, price levels, and trading strategies are provided solely as a recap of the livestream and do not constitute investment advice. Cryptocurrency, futures, precious metals, crude oil, and tokenized stock trading involve substantial risk. Please make decisions according to your own risk tolerance and always use strict risk controls.