7.6 BTC and ETH Evening Review: High-level pressure leads to pullback, short-term recovery weak



After the latest surge to a stage high, bullish momentum weakened. BTC and ETH both came under pressure and pulled back. Short-term bulls took profits. The 4-hour moving average bullish structure remains, with only a short-term corrective recovery.
Technical analysis: BTC's 1-hour chart has broken below the MA7 and MA30 moving averages, with the MACD forming a bearish crossover. The 4-hour moving average support still holds. ETH's 1-hour chart has also dropped below short-term moving averages, with the MACD bearish green bars expanding. The Bollinger Bands for both coins are simultaneously turning flat, increasing overhead pressure.
Short-term resistance: BTC 63300, 63980; ETH 1773, 1808
Support: BTC 62080, 61500; ETH 1727, 1695
Coco's suggestion: Focus on shorting on short-term bounces at highs. Short BTC at 63100-63400, targets 62100, 61500; Short ETH at 1765-1775, targets 1727, 1695. After retesting key support levels and stabilizing, consider long positions. Strictly control position size.
Disclaimer: The above is only personal opinion and does not constitute investment advice.
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