7.3 Bitcoin & Ethereum Evening Analysis

Since midday, the market has experienced a pattern of first rising then falling in a fluctuating consolidation. After starting from a low, prices underwent a smooth upward push, with bullish sentiment being released in a concentrated manner and reaching a new stage high. However, as momentum declined marginally, selling pressure above gradually emerged. After hitting the high point, prices failed to hold steady and promptly entered a phase of high-level pullback correction. The current trend indicates that the short-term unilateral upward movement has paused, with bulls and bears increasing their divergence at the current level. The market is shifting from a surge to sideways consolidation or a slight decline, in order to absorb the previous profits.

Faced with this pattern of a surge followed by a decline, the current trading logic should focus on "defensive counterattack." Although the overall trend has not been completely broken, top signals have appeared in the short term, making the risk-reward ratio of chasing longs extremely low. At this point, it is not advisable to blindly lean bullish; instead, one should be wary of the main force's distribution behavior after inducing longs at highs. Since upward momentum has weakened, the market will likely need to correct overbought indicators through a decline or extended sideways movement.

Operation Suggestions:
Short Bitcoin near 62000, stop loss around 62700, targets sequentially at 61000-60500.

Short Ethereum near 1710, stop loss around 1750, targets sequentially at 1660-1630.