July 4 Intraday Thoughts


Looking at the one-hour level chart, the overall upward channel structure remains intact and has not been effectively broken. Affected by the shrinking trading volume over the weekend, market liquidity is weak. At this point, chasing long positions with the trend has a very poor risk-reward ratio, and the practical cost-effectiveness is low. It is not recommended to rashly enter long positions.

On the indicator level, prices have been rising over the past day, but the MACD indicator has been declining, forming a typical bearish divergence pattern. The indicator lines are also nearing a death cross inflection point. Multiple technical signals are resonating, and the probability of a short-term pullback is high.

Recommendations
Aggressive: Short directly at 62700, conservative: wait for 63500. Targets: 62000, 61000.

ETH similarly: short at 1765, 1800, targets 1740, 1700.
$BTC $ETH
BTC1.03%
ETH2.51%
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