Tuesday Summary, 7.1 Wednesday Early Morning Bitcoin and Ethereum Market Analysis and Operation Suggestions

Profit-taking orders naturally silence all doubts. Reviewing Tuesday’s full-day market, it finally broke through the range-bound oscillation that had persisted for several days. After the early morning surge failed to stabilize, the market continued to decline steadily throughout the day, leaving no breathing room for bulls. Bitcoin hit a low of 58,160, just a step away from the previous low of 58,030, while Ethereum simultaneously dropped to the 1,549 mark.

The chart fully confirms the firm bearish strategy, which was not disrupted by the brief early-morning fake rally. Zhi Lan’s live trades netted a total of 2,585 points from Bitcoin shorts and 101 points from Ethereum shorts. These tangible gains once again verify the reliability of following the downtrend and not bottom-fishing in a weak market.

Looking at the current chart overall, the key 59,000 level has been effectively broken, making the weak structure even more apparent. If there is no effective rebound back above this level, the downside space will further expand. The daily level closed with a solid bearish candle, with bearish forces dominating, strengthening expectations for further pullback. The 4-hour level shows the K-line running in the middle and lower bands of the Bollinger Bands, with the middle band continuously pressing downward. After the rebound peaked and faced resistance, consecutive bearish candles have formed, with highs gradually lowering and lows constantly refreshing. All previous support levels have been broken, the medium-to-long-term weak pattern has further deepened, and the stair-step decline structure remains intact. On the hourly chart, the Bollinger Bands open downward, with the middle and upper bands forming layers of strong resistance. Consecutive bearish K-lines appear, with brief rebounds quickly swallowed by bearish candles, rebound highs gradually decreasing, and continuous bearish selling pressure accumulating. Key levels have been breached, the bearish trend continues, and the market is likely to continue oscillating downward in the early morning. Rebounds present opportunities for shorts. Do not bottom-fish in a weak market.

Bitcoin: Short near 59,000, target 58,030→57,300
Ethereum: Short near 1,585, target 1,545→1,510
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