July 7th Qian Cheng Evening BTC & ETH Analysis

The midday prediction has been validated again. BTC encountered resistance above 63500 and fell back, currently at 63173; ETH similarly faced pressure around 1790 and weakened, now at 1776. Prices have failed to organize an effective rebound this afternoon, consolidating at low levels, with bears firmly in control and bulls completely powerless.

On the daily chart, the upper shadow left by the morning rally and pullback tells the whole story. Selling pressure above is heavy, and even the 5-day moving average has not been held effectively. The bearish arrangement is firmly locked in. Currently, the K-line body is pitifully small, with bulls lacking the courage for even a tentative counterattack. Calling a bottom stabilization is premature. On the 4-hour level, the middle band of the Bollinger Bands continues to press downward, and the price has been trading below the middle band. The afternoon has seen alternating small bullish and bearish candles, forming a typical bearish continuation pattern. The MACD death cross below the zero line continues to diverge, with bearish momentum releasing steadily. The RSI is at a low level in the weak zone, showing no signs of turning, indicating extremely low willingness to buy the dip—everyone is waiting for lower prices.

Reference for operations:

BTC: If there is a rebound near current price to the 63300–63600 area, you can continue to take short positions, targeting 62000.
ETH: Short in the 1785–1800 range, targeting 1720.