7.1 Wednesday Midday Market Analysis

The price directly plunged to the support level of 57700. Previously, many people expected a short-term rebound at this point, but the actual recovery was extremely weak, far from expectations.
After stabilizing briefly, the price began to consolidate at lower levels, with the upward momentum weakening progressively. The chart clearly shows several attempts to break through the 58000 mark, but each high was lower than the last. The bulls were unable to hold the line, with very few buy orders below to support the price. The short-term trend remains bearish, with bears in control. The rebound was based on relatively high volume, follow-through 1-hour bullish candles, and long lower wicks. ETF selling volume has declined, and although there hasn't been a crash, Bitcoin's monthly chart looks very bearish, possibly forming a candle with an extremely long upper wick. Therefore, after the rebound, a further decline is highly likely.
BTC operation suggestion: Short at 59300-60000, take profit at 58800-57800, stop loss at 60500.
ETH operation suggestion: Short at 1600-1630, take profit at 1570-1540, stop loss at 1650.
At low take-profit levels, you can enter a long position.