7.1 Evening Market Analysis of Bitcoin and Ethereum



From the 1-hour cycle chart, Bitcoin's high points are continuously moving lower, and the momentum of rebound rallies remains persistently weak. The short-term bearish market structure is very clear. All the upward moves seen on the chart are merely technical recovery rallies after a sharp decline.
Although the MACD indicator has formed a golden cross at a low level, driving a slight rebound, both lines are still below the zero line, with bullish momentum weak. It is quite difficult for the price to completely reverse the downtrend.

Trading Strategy

Bitcoin

When the price rebounds to the 59000‑59800 resistance range and encounters resistance, a short position can be placed. The first target is 58300. If this support is effectively broken, follow the trend and look toward the 57000 area.

Ethereum

The upper pressure range is set at 1580‑1630. When the price touches this area and weakens, short positions can be taken. The primary take‑profit level is 1550; if support is lost, further downside space will open, with a target of 1480.
BTC2.82%
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