7.8 Wednesday Market Strategy Analysis:



At the BTC four-hour level, price has effectively broken down below the important support of the Bollinger Middle Band. The Bollinger Bands’ upper and lower tracks are expanding downward in tandem, and the bearish downtrend is gathering momentum.

In the short term, moving averages have formed a death cross at a high level, continuing to suppress the market. Combined with the KDJ double lines turning down, multiple technical indicators create a bearish confluence.

The current modest rebound is only a brief correction within the ongoing sell-off. Market bulls are lacking strong follow-through, and there is no bottoming reversal signal visible on the chart. The trading approach remains to sell short on rebounds with resistance, following the downward trend.

BTC: Place shorts on the rebound around 64300-65000. Targets: 63000-62000-61000.

ETH: Place shorts on the rebound around 1810-1850. Targets: 1760-1710-1660$BTC $ETH #
BTC-0.04%
ETH-0.37%
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