$BTC 7.1 Bitcoin and Ethereum Morning Analysis



From the 4-hour timeframe, the middle band is still a strong pressure level. It acts like a dividing line between bulls and bears. In the short term, the market will continue to maintain a low-level range consolidation and adjustment. The subsequent rebound is only a technical correction after a big selloff. After all, following the rapid decline earlier on, the market does need some time to repair the damage caused by the drop. At present, the price is still trading near the lower band, and all moving average indicators are diverging downward. In this round of rebound, it hasn’t even touched the middle band; the pullback speed is very fast, which shows that bearish momentum is still very strong. The morning trading approach is still very clear: maintain the strategy of shorting on rallies as the primary focus.

 Trading Suggestions

 Short BTC around 59000-59500, target 57000-56500

 Short ETH around 1590—1610, target around 1500#币圈
BTC0.05%
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