July 1 BTC/ETH Morning Market Report: Bitcoin faces pressure again at the 60,000 mark, shorting near this level

Yesterday, after Bitcoin broke below 58,000, it quickly recovered. The buying power for bottom-fishing was still strong. It is now around 594,000, but the resistance near the 60,000 level above remains rock-solid. The strategy remains unchanged, still shorting at highs.

Today's view: Light position

BTC: reference resistance above around 59666-60500-61200, targets below around 58000-57500-56400-53500

ETH: reference resistance at the current price around 1600 and 1622-1638, support targets below around 1550-1500-1480-1425-1370

Logic for short positions:

Bitcoin price touched the daily Bollinger lower band around 57750, providing some support, but the lower band is still opening downward, so there is still room for decline. Above, the 21-day moving average around 62500 combined with the Bollinger middle band forms double resistance. The 21, 55, and 144-day moving averages above are in a bearish alignment, and the downtrend has not changed. Small-timeframe indicators show a need for a rebound. Today's strategy suggests a light position, waiting for a price rebound before shorting at highs.

Yesterday's short positions for Bitcoin at 60k-61200 and Ethereum at 1590-1630 were entered early as hinted in the hardcore fan group. Currently, there is a small floating loss. Hold patiently, don't panic. It can't bounce for more than two days; it's going down!

Recently, all strategies should not use heavy positions. This time point is critical. Both directions could break out directly, so remember to participate with light positions! Opportunities come every day, but if you run out of bullets, it will be difficult to buy the dip later at low levels. Everyone must preserve their strength!

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