7.3 Early Morning

Yesterday, the two major mainstream assets moved in sync to come out of the low-level consolidation and rebound repair; the bearish momentum that had been continuously released in the earlier phase has basically been exhausted. During the day’s early session, prices edged up but came under pressure and pulled back slightly. The price action is currently trapped in a short-term range of long-versus-short tug-of-war, but the overall rebound repair trend has not been damaged.

At present, market participants’ overall sentiment is one of cautious observation. Support at the bottom is firm, and in the short term there is no room for a deep further dip. However, the key overhead resistance level is relatively strong. Unless it is effectively broken through, do not blindly chase longs; the safer approach is to wait for a pullback to support, and then focus on initiating long positions.

Recommendation
BTC: 605-610 long, target 625-630.
ETH: 1685-1670 long, target 1720-1735.