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7.8 Morning BTC & ETH Market Thoughts, Prioritize Rebound Shorts
After an overnight surge, the overall market is consolidating, with strong resistance overhead. The rebound momentum is gradually weakening. Bulls and bears are fiercely competing at key price levels, with narrowing fluctuations but constant shakeouts, and the short-term direction is about to be chosen.
The market shows clear high-level stagnation, with weakening bullish momentum. Blindly chasing highs offers poor cost-effectiveness. It is more suitable to short near resistance areas during rebounds. With insufficient upward momentum, the probability of a short-term decline is higher.
Operation Levels:
BTC rebound to 63700-64200 to enter short, stop loss 64600, target 62800-62300
ETH rebound to 1815-1830 to enter short, stop loss 1870, target 1770-1740
#btc
$BTC