7.3 Morning Chenye Bitcoin Analysis

Last night's Bitcoin rally and pullback fully confirmed our previous deduction. Our short positions laid out in advance in the 61800-62300 area precisely captured this downward space. We decisively entered the live account at 62010, then successfully took profit at 61361, securely locking in 649 points of profit.
Currently, Bitcoin is testing the key resistance level at 61800. From the 4-hour level, although there were two minor rebounds during the session, each time it touched the upper resistance line it failed to continue upward, eventually forming a doji and beginning a pullback. This pattern clearly indicates heavy selling pressure above, and bullish momentum has significantly exhausted.
The current short-term is at a critical juncture for a trend change, but due to weak bullish support, it is difficult to stage a reversal upward in the short term. Therefore, the operational approach for the next steps is very clear: as long as the market rebounds to the resistance level and shows lackluster upward momentum, that is the perfect opportunity for us to enter and lay out short positions.
Bitcoin operation suggestion: short on rallies in the 61800-62300 area, with a downside target of the 60500-59800 area.
Ethereum operation suggestion: short on rallies in the 1700-1730 area, with a downside target of the 1550-1600 area.
#Gate股票转仓功能上线