7.1 Wednesday Morning Bitcoin and Ethereum Market Analysis and Operation Suggestions

Hello July, may all good things arrive as "seven" comes. Looking back from early morning till now, the overall weak pattern of the market remains clear. After breaking the key support earlier, it has been operating at low levels. Bitcoin obtained temporary support near the low of 581600 and then staged a small technical rebound repair, rebounding to a high of 58850 before facing pressure again and weakening. The long side is completely unable to break through the layers of pressure above; Ethereum follows the same rhythm, having previously completed a deep downward move to a low of 1549, and rebounded slightly in the early morning but the rebound amplitude is extremely limited, unable to recover most of the previous day's losses.
The market fully confirms the firm bearish strategy, not disrupted by the temporary fake bull rebound. Zhi Lan's real-time positions yesterday placed Bitcoin shorts totaling 2585 points, Ethereum shorts simultaneously capturing 101 points, tangible profits once again verifying the reliability of following the bearish trend and not bottom-fishing in a weak market.
Currently, after the key point at 59000 was effectively broken, the weak structure is more obvious. Although there is repair in the short term, the rebounds lack volume support, and highs continue to move down step by step. Each round of small rebound is accompanied by bearish selling pressure. There are no reversal signals on the K-line to stop the decline. The daily level closed with a solid bearish candle, with bearish power dominant, and the expectation of further pullback is intensifying. On the 4-hour level, the K-line is still running in the middle and lower track area of the Bollinger Bands, the middle band continues to press down, and the rebound positive candles are short and weak, insufficient to recover lost ground; it is only a technical repair after a sharp drop, not a reversal signal. On the hourly level, the Bollinger Bands expand downward significantly, and the early morning rebound repair failed to even touch the middle band, with the center of gravity moving down continuously; the middle and upper track range is the primary resistance for short-term rebounds. After a sharp drop, there will be a demand for rebound repair, so operations should still prioritize shorting on rebounds; in a weak market, do not talk about bottoms.
Bitcoin: Short near 59000-59500, targets 58030→57300
Ethereum: Short near 1585-1610, targets 1545→1510
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