7.7 Bitcoin & Ethereum Early Morning Analysis


Last night, the market staged a deep V-shaped reversal. After a sharp decline to the bottom during the session, bulls launched a strong counterattack, not only recovering lost ground but also breaking through the consolidation zone, eventually closing with a long lower shadow bullish candle. The short-term trend shifted from weak to strong.
After the rapid rally, risks have accumulated, and chasing highs at elevated levels offers poor risk-reward. Indicators have shown overbought conditions, with clear resistance above. Beware of a pullback after the surge. Currently, blindly chasing the uptrend is not advisable. Instead, look for short opportunities at highs to bet on a correction retracement.

Trading suggestions:
For Bitcoin, go short directly near 64000-64500, with a stop loss near 65000, targets at 63200-62500 in order.
For Ethereum, go short directly near 1800-1820, with a stop loss near 1850, targets at 1750-172$XAU T $BTC XAUT
XAU-1.02%
BTC0.43%
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