7.2 Midday Bitcoin, Ethereum Analysis



Bitcoin daily chart shows highs gradually moving lower, Bollinger Bands continuously narrowing, market volatility shrinking, and the market forming a typical range-based consolidation and washout pattern, with bulls and bears failing to establish a clear direction. On the 4-hour cycle, indicators are in a low-level recovery phase, but the market lacks sustained momentum for a strong rally; each minor upward spike is met with selling pressure from short-term funds, and resistance above is evident.

Trading Strategy

Bitcoin: Short at 61000–61500 range, stop loss at 61800, first targets 60000–59000, effective breakdown could see 58000.

Ethereum: Short at 1630-1650, stop loss at 1680, targets 1580, 1500.
#BTC
BTC1.51%
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UnderTheWisteriaBridge
· 07-02 06:51
Bollinger Bands squeeze + range washout, this position is indeed awkward. Short a position near 61000 to test the waters, just set a stop loss properly, don't be greedy.
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