7.6 Midday BTC/ETH Market Analysis by Shiyuan



After a sharp rally over the weekend, BTC and ETH have experienced a pullback from high levels, with 63990 and 1808 remaining the strongest resistance levels. Looking at the 4-hour cycle, the overall trend has weakened after the surge, firmly suppressed by the upper medium- to long-term moving average lines. The current correction after this rally has not shown a bottoming or reversal signal.

The current slight rebound is merely a brief recovery following the sharp decline after the surge. It is basically unrealistic to expect a complete reversal of the adjustment trend from this.

Moreover, the bullish momentum in the 4-hour cycle continues to weaken, and the bulls are unable to sustain upward movement. The risk of another pullback after a subsequent rally is very high. Do not blindly chase longs and get trapped.

BTC:
Short in the 63990-64500 range, with a primary target of 63000. If it breaks down smoothly, further look towards 62600.
On a retracement to 62600-63100 with stabilization, go long with a target of 63800-64000 and a stop loss at 62500.

ETH:
Short in the 1790-1808 range, with a primary target of 1770. If it breaks down smoothly, further look towards 1740.
On a retracement to 1770-1772 with stabilization, go long with a target of 1785-1790 and a stop loss at 1765.
$BTC $ETH
BTC0.38%
ETH0.61%
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