This week started with extremely pessimistic market sentiment. Bitcoin was the first to lose the 60,000 mark, and on the market it once fell to 57,758. Ethereum also weakened in sync, breaking below 1,550. The turning point occurred in early July. Due to news influences, Bitcoin and Ethereum quickly recouped their losses and rebounded sharply, both ending the week with gains. Bitcoin approached the 63,000 mark over the weekend, while Ethereum performed even stronger, hitting a high of 1,808, successfully reversing the early-week weakness. Despite the successful rebound this week, the overall trend remains bearish and oscillating. The signal for a reversal has not yet appeared, so Old Yang's real-time positions this week have been predominantly short. Until the market direction is clear, following the trend is the safest approach. The final profit results have validated this: Bitcoin gained over 11,000 points this week, and Ethereum over 300 points. The market is always changing. What you can do is remain awe, continue learning, and stay sensitive to risk. After all, those who survive in the crypto space are not the smartest, but the most cautious.

From the current chart perspective, although Bitcoin's daily chart has closed with four consecutive positive candles, it is still in the rebound and repair phase above the support level of 58,000 within the downtrend. This is a technical repair after the decline, and the broader trend has not completely reversed. The price has moved above the middle band of the Bollinger Bands, while the upper and lower bands remain open, indicating a generally bearish oscillating trend. On the 4-hour level, the MACD double lines are running above the zero line, and the red bars are shortening, showing that bullish momentum is gradually declining. Repeated attempts to break through 63,000 have failed, indicating obvious selling pressure above. A triple-top pattern has formed near 63,500, resulting in significant short-term resistance.

Bitcoin can be shorted at 63,000-63,500, with a target near 61,000

Ethereum can be shorted at 1,780-1,810, with a target near 1,650

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