This article is published in the "Market Analysis" section of KTX Crypto Academy and is based on the official Web3 market livestream from KTX Crypto Baize Academy. In this session, instructor Zeyu reviewed the reduction and rebound re-entry logic for BTC and ETH short positions, then updated the accumulation plan to BTC 60,000-63,000 and ETH 1,600-1,700. The livestream also covered gold, crude oil, SK Hynix, SNDK, ZEC and HYPE, with practical lessons on Fibonacci retracements, scaling into profitable positions, trailing stops and altcoin position management.

Instructor: Zeyu

Livestream Platform: KTX Official Chinese Lark Community

Livestream Date: July 24, 2026

Core Topics: BTC 65,777-66,333 rebound short · BTC 60,000-63,000 spot accumulation · ETH 1,906-1,936 rebound short · ETH 1,680-1,730 long zone · ETH 1,600-1,700 spot accumulation · Crude oil targets at 85/79 · ZEC pullback levels at 480/450/420 · Scaling into profitable positions and stop-loss management

Full Livestream Replay:

The full KTX Baize Trading Academy Web3 market livestream has been uploaded to YouTube.

Key Takeaways

• BTC remains in a short-term pullback setup, but the extended consolidation suggests that the broader market may resume a choppy upward trend after the correction.
• After taking the first profit near 65,000, the BTC short should not be chased lower. The plan was to add back on a rebound into 65,777-66,333.
• BTC pullback bids can be distributed around 63,488, 62,388 and 61,288. The updated spot plan is to allocate roughly 20% in the 60,000-63,000 area.
• The ETH rebound short zone was 1,906-1,936, while the blended short entry during the livestream was around 1,902.
• ETH contract longs can be watched around 1,680-1,730, with roughly 20% spot accumulation planned in the 1,600-1,700 area.
• The previous gold short near 4,100 has been closed. With no clear structure at present, gold remains a watch-only market.
• Crude oil shorts were opened between 88 and 92, with Zeyu's average near 90.8. The next downside levels are 85 and 79.
• ZEC pullback levels are 480, 450 and 420. Heavy altcoin longs should wait until BTC and ETH reach their key areas.
• Adding to a profitable short should happen after a rebound, not while price is falling, because chasing lower quickly worsens the average entry.
• Risk, position size and stop-loss placement should be defined before profit targets. Even profitable weekend positions need protection.

Core Questions

1. Why does the short-term BTC pullback view remain intact while the first accumulation zone has been raised from 50,000-52,000 to 60,000-63,000?
2. Why should traders wait for a rebound before adding to BTC shorts after taking profit near 65,000?
3. How should position size be distributed across 63,488, 62,388 and 61,288?
4. What is the difference between ETH's 1,906-1,936 short zone and its 1,680-1,730 long zone?
5. Why consider a 20% ETH spot allocation at 1,600-1,700 instead of waiting exclusively for 1,000-1,200?
6. Why is gold being avoided while the crude oil short is still held?
7. How should leverage and position size be managed for ZEC, HYPE and other altcoins?
8. How should Fibonacci retracements, trailing stops and profit-based scaling be used correctly?

1. Market Outlook: Pullback First, Then a Return to the Bullish Bias

Zeyu's main view is that the BTC and ETH pullbacks have not fully reached their target zones, but this does not mean the medium-term outlook has turned bearish.

BTC has consolidated from June 5 to July 24, a period of roughly one month and twenty days. The market's ability to remain near the upper part of the range suggests that downside momentum may be weaker than previously expected. For that reason, the earlier plan to wait for BTC at 50,000-52,000 before buying has been revised upward.

The current sequence is:

1. Continue managing existing BTC and ETH shorts while waiting for the near-term pullback.
2. Take profits in stages during the decline instead of closing the entire position at once.
3. Begin spot accumulation if BTC reaches 60,000-63,000 and ETH reaches 1,600-1,700.
4. Return to a long bias and a choppy upward outlook after the pullback is complete.

Zeyu expects the market to have a better chance of choosing a direction next week. His preferred path is a pullback first, followed by another move higher. Weekends are often quiet, but unexpected volatility remains possible, so open positions still require stop protection.

2. Bitcoin (BTC): Add Shorts at 65,777-66,333 and Accumulate Spot at 60K-63K

2.1 Short Review: Take Profit Near 65,000, Then Add on a Rebound

BTC perpetual futures broke below its rising channel and then retested the breakdown area. Using the one-hour Fibonacci retracement, Zeyu set the rebound short zone at 65,777-66,333.

The blended entry of the existing BTC short was approximately 65,800-65,900. The first profit was taken near 65,000. The next action was not to chase the breakdown, but to wait for a rebound and restore part of the reduced short position.

This approach is designed to protect the short entry:

• Adding during a decline continuously lowers the average short price.
• Adding after a rebound provides a better price for the new position.
• When the original position is already profitable, scaling on a rebound can increase total return.
• If the rebound invalidates the bearish structure, the stop must be executed instead of adding without limit.

2.2 Three Pullback Levels for Long Entries

Based on the daily Fibonacci retracement, three BTC pullback levels deserve attention:

• First level: around 63,488
• Second level: around 62,388
• Third level: around 61,288

Support and resistance are zones rather than perfectly exact prices. Traders may use nearby orders such as 63,333, 62,222 and 61,111 based on their own execution preferences. The critical point is to distribute capital in advance rather than committing the full position at the first level.

2.3 Spot Plan Revised to 60,000-63,000

The previous BTC spot plan was to begin buying near 50,000-52,000. Because the current high-level consolidation has lasted much longer than expected, Zeyu raised the first accumulation area to 60,000-63,000.

If price reaches this zone, the plan is to allocate roughly 20% to BTC spot. If BTC continues lower, the position can be increased gradually. If the market does not fall further, the initial position still provides exposure to the next advance. This is a short-term pullback view followed by a bullish recovery plan, not a long-term bearish call.

3. Ethereum (ETH): Short 1,906-1,936, Accumulate Spot at 1,600-1,700

3.1 Current Short and Re-entry Zone

ETH perpetual futures have been relatively stronger than BTC, but the short-term structure still points to a pullback. Based on the one-hour Fibonacci 0.5-0.786 range, the rebound short zone was:

1,906-1,936

During the livestream, the blended ETH short entry was around 1,902. The move from roughly 1,906 to 1,877 had already produced about 30 dollars of downside.

For traders without a position who wanted to re-enter during the session, Zeyu suggested waiting for a small rebound near 1,890 and using a more practical stop. He also warned against adding too heavily because weekend volatility can still produce sudden reversals.

3.2 Contract Long Zone and Spot Accumulation

Based on the daily Fibonacci retracement, the next ETH long areas are:

• Contract long watch zone: 1,730-1,680
• Spot accumulation zone: 1,600-1,700
• Initial spot allocation: roughly 20%

Some market participants expect ETH spot to fall to 1,000, 1,100 or 1,200. Those scenarios are possible, but there is no guarantee that price will reach them. Zeyu's approach is to establish a partial spot position at 1,600-1,700 and add only if price continues lower, avoiding the risk of missing the next advance while waiting exclusively for an extreme target.

4. Gold and Crude Oil: Stand Aside on Gold, Hold Oil Shorts Toward 85 and 79

4.1 Gold: Wait for a New Structure After the Channel Break

Gold previously moved inside a descending channel, allowing shorts to be considered after rebounds. Zeyu has already closed the previous short near 4,100. After price broke above the old channel, the setup became less clear, so he has not traded gold over the past several days.

The current plan is simply to observe. A new position will only be considered if a clear trend line, resistance area or favorable risk-reward setup appears. Without a good opportunity, there is no need to force a trade.

4.2 Crude Oil: Short from 88-92, Average Near 90.8

Crude oil rebounded into a long-term descending trend line. Shorts were opened in the 88-92 range, with Zeyu's personal average near 90.8. He reduced part of the position because it had become too large, but the remaining short was still open during the livestream.

The next downside levels are:

• First target: 85
• Second target: 79

The thesis is not that oil must collapse. The value of the trade came from a favorable risk-reward setup when price reached the descending trend line. The opportunity was executed while the potential loss remained controlled by a predefined stop.

5. SK Hynix and SNDK: The Downtrend Remains, but Reversal Risk Is Increasing

5.1 SK Hynix: A One-Month Descending Channel

SK Hynix remained inside a descending channel from June 22 through July 24, a period of roughly one month. The bearish structure was still active, but the longer a trend persists, the more important it becomes to prepare for two possible outcomes:

1. Price breaks above the descending channel and invalidates the bearish setup.
2. The channel continues and price makes a deeper decline.

A market should not be assumed to fall forever simply because it has been declining for a month. Trends generally do not change easily once established, but reversal risk increases when the same structure has already lasted for an extended period.

5.2 SNDK: Price Fell After the Stop, but the Risk Rule Still Stands

Zeyu's previous SNDK short averaged approximately 1,575, with a stop near 1,666. The stop was triggered in the prior session. During this livestream, price had already returned to roughly 1,572, but that does not mean the original stop was wrong.

The review highlights two points:

• Highly volatile products need stops based on the account's actual risk capacity.
• Price often reverses after a stop is triggered, but this is not a reason to remove risk protection from future trades.

Trading outcomes are uncertain. A stop is designed to limit the cost of one wrong setup, not to guarantee an exit at the exact high or low.

6. ZEC, HYPE and Altcoins: Wait for the Majors, Then Use Low Leverage

The next pullback levels for ZEC perpetual futures are:

• First level: 480
• Second level: 450
• Third level: 420

Zeyu considered the area around 450 relatively more attractive. If BTC and ETH continue to correct, altcoins such as ZEC and HYPE perpetual futures may struggle to move independently. Heavy long exposure should therefore wait until the major assets reach their planned zones.

Zeyu noted that support and resistance levels in altcoins can fail more easily than in BTC and ETH. More conservative approaches include:

• Using a small spot position whose full loss would be acceptable.
• Using 3x-5x low leverage while reducing position size.
• Avoiding too many simultaneous altcoin positions.
• Never using high leverage merely because a support level appears obvious.

At the current stage, Zeyu prefers BTC, ETH, gold, crude oil and tokenized equity products with clearer structures instead of forcing trades in every altcoin.

7. Trading Lessons: Fibonacci, Profit-Based Scaling and Trailing Stops

7.1 Draw Fibonacci Retracements from Left to Right

Fibonacci retracements should follow the chronological order of price action, from the already-formed move on the left toward the right. The tool can be applied to one-hour, four-hour, daily and weekly charts:

• Larger timeframes generally produce more important levels and larger potential moves.
• In normal conditions, the 0.618 and 0.786 levels deserve priority.
• In strong trends, price may only retrace to 0.236 or 0.382.
• Support and resistance should be treated as zones, not as one mechanical number.

7.2 Scaling into Profit Is Not the Same as Chasing a Falling Market

The BTC and ETH shorts in this session used a "take partial profit, then add back after a rebound" structure:

1. The original short develops an unrealized profit.
2. Part of the position is reduced at a target.
3. Price rebounds into a new resistance area.
4. The short is restored only if the bearish structure remains valid.

Continuously adding while price is falling lowers the average short entry too quickly. A normal rebound can then turn a profitable position into a losing one.

7.3 No Rebound, No Short; No Pullback, No Long

Zeyu summarized his execution rule as: no rebound, no short; no pullback, no long.

A rally into resistance creates a reason to consider a short. A pullback into a planned support zone creates a reason to consider a long. When price is in the middle of the range, waiting is often better than accepting a poor entry and prolonged psychological pressure.

7.4 Profitable Positions Still Need Protection

Weekends are often quiet, but sudden volatility remains possible. Profitable BTC and ETH shorts can use trailing stops to avoid turning gains back into losses.

Stops should be calculated from each account's position size, leverage and entry. The exact stop examples in the livestream reflected Zeyu's personal positions and should not be copied directly into accounts with different costs.

7.5 Keep Position Size Consistent

If a trader opens one ETH when losing but only 0.5 ETH when winning, long-term results can remain poor even with a reasonable win rate. A better approach is to maintain a relatively consistent base position and increase it only slightly when conviction is higher, rather than changing size dramatically under emotional pressure.

8. Core Trading Principles

1. A short-term short and a medium-term bullish view can coexist: manage the pullback first, then accumulate at lower levels.
2. Add shorts after rebounds, not during declines: protect the average entry and risk-reward ratio.
3. Support and resistance are zones: order prices may vary slightly, but capital must be distributed in stages.
4. Build an initial spot position: allocate part of the portfolio at BTC 60K-63K and ETH 1,600-1,700, then add only if price falls further.
5. Execute when a good setup appears: the outcome is uncertain, but the risk must be defined in advance.
6. Profit-based scaling requires conditions: first establish profit, then wait for a rebound and add only if the structure remains valid.
7. Use small size and low leverage for altcoins: their technical structures can fail more easily.
8. Stops are mandatory: protect profitable trades and prepare for weekend volatility.
9. Keep position size consistent: avoid making losing trades large and winning trades small.
10. Stay patient: bottom-building can last for months, and short-term frustration should not force an early exit.

9. Livestream Resources and Participation

Users who have not joined the official KTX Lark community can scan the QR code shown in the top-right or lower section of the livestream. The group shares daily market views, livestream notices, strategy reviews and related events.

This article is based on a livestream from the official KTX Chinese community and is provided only for market review and trading education. It does not constitute investment advice. Cryptocurrency, precious metals, crude oil and tokenized equity trading involve substantial risk. Trade according to your own risk tolerance and always use risk controls.