On the 7.5th, last night Bitcoin surged to the strong pressure area of the 6.34 weekly line, and it has now started to pull back. During the daytime today, it repeatedly made strong attacks on 6.3, but it still didn’t manage to stabilize—so it means that in the short term, the bullish side may not be able to sustain itself. Bitcoin is very likely to pull back toward around 6.16. The overall pace next week may return to a cycle of daily-chart consolidation. At the moment, with no daily consolidation taking place for a few days, it’s likely difficult to break through the overhead resistance above.

Ethereum is pulling back in the short term, and is likely to start consolidating in the 1700 to 1680 area. We’ll focus on the opportunity for daily consolidation. After the consolidation, the bulls should still have another wave of upside rally! If you missed this previous wave of upside rally, keep a close watch on this time’s daily pullback and consolidation opportunity, and set up long positions!