7.8 Bitcoin & Ethereum Morning Ideas|Luo Yi's Ideas


Overall Trend
After overnight digestion, the bullish momentum at the high level is gradually weakening, and the market is showing obvious resistance in the morning. The next move will mainly focus on shorting on rebounds, without blindly chasing long positions.
Market Review
After Bitcoin's surge, the upward momentum lacks strength, with strong resistance above firmly capping the gains. Ethereum follows the broader market's decline, with short-term chasing funds exiting, and the bullish chips on the market beginning to cash out in batches.
Market Analysis
On the four-hour cycle, indicators are turning weaker, and the brief rebound is just a trap to lure longs at the tail end of the uptrend. Every small rebound is an excellent opportunity to lay out short positions, as the subsequent correction space has already opened up.
Trading Suggestions
Bitcoin
Entry Range: 63500–64000
Stop Loss: 64550
First Target: 63200-63500
Second Target: 62600
Ethereum
Entry Range: 1790–1802
Stop Loss: 1830
First Target: 1748-1765
Second Target: 1702
$BTC $ETH
BTC0.07%
ETH0.44%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned