7.3 Morning Bitcoin and Ethereum Analysis



Bitcoin surged and then fell back in the evening, with the trend fully matching the expected projection!
Currently, Bitcoin is testing the key resistance level of 61,800. On the 4-hour chart, after two minor rebounds, it touched the upper resistance and then lacked upward momentum, closing with a Doji candle and starting a pullback, clearly reflecting heavy selling pressure above and continued weakening of bullish momentum.
At this stage, the short-term is at a key inflection point, but the bulls lack sufficient support, making it difficult for the market to reverse upward in the short term. The trading strategy is clear: when the price rebounds and meets resistance with stagnant growth, it is a prime opportunity to short from highs.

Trading Suggestions
Bitcoin: Short near 61,800-62,200, target 60,700-59,900
Ethereum: Short near 1,700-1,750, target 1,530-1,580 #BTC
BTC0.64%
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BribeCoffee
· 07-03 01:53
The thinking of shorting from a high level is fine, but the stop-loss needs to be tight—this kind of false breakout is also not uncommon at this spot.
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FoldedCosmosCat
· 07-03 01:50
The 61800 level has indeed been grinding for too long, failing to break through twice, making the bearish scenario highly probable.
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0XsundayCook
· 07-03 00:03
Followed, placed a short order near 62200, first target is 61000, if it breaks below, then look at the 60000 integer level.
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