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July 8 BTC/ETH Market Analysis
From a technical structure perspective, after consecutive bullish daily candles, the market turned to a bearish correction and fell back. The original downward trend line has basically been severely disrupted. Although, along with this circuitous oscillating rise, the room for the pullback is relatively larger, the overall impact will not be too significant. On the smaller timeframes, after probing the lows and rebounding, the moving average indicators have all started to slope upward, driving bullish momentum to release upward energy. After the early-morning spike and subsequent pullback, it still remains possible to catch the pullback and continue following. This rhythm mainly depends on the strength of continuation in the afternoon. Go long first in the morning; if the bulls continue to push in the afternoon, it is still very likely to go long. If they do not continue, then it’s better to catch the pullback in the afternoon and follow.
Trading Suggestions:
BTC near 62500—62000, target around 64000—64900
ETH near 1735—1710, target around 1800—1835
$BTC $ETH
From a technical structure perspective, after consecutive green daily candles, the market turned bearish for a correction. The original descending trendline has essentially been severely disrupted, but amid a zigzagging, upward oscillation, there is relatively more room for pullbacks. Still, the overall impact won’t be too significant. On the smaller timeframes, after probing the lows and rebounding, the moving average indicators have started to slope upward, driving bullish momentum to release upward. After the spike and pullback early in the morning, it’s still about taking the opportunity on the pullback to continue following through. This rhythm mainly depends on the strength of the continuation in the afternoon. Go long first in the morning; if bullish momentum continues in the afternoon, it’s still likely to go long. If it doesn’t continue, take the opportunity of the afternoon pullback to follow through.
Trading Suggestions:
BTC near 62500—62000, target around 64000—64900
ETH near 1735—1710, target around 1800—1835
$BTC $ETH
From a technical structure perspective, after a run of consecutive bullish days on the daily chart, it turned to bearish and is undergoing a correction. The original downward trend line has basically already been severely damaged. However, along with a circuitous, oscillatory rise, the room for a pullback is relatively larger, but overall the impact will not be too significant. In smaller timeframes, after probing the low and then rebounding, the moving average indicators have also started to slope upward, driving bullish momentum to release upward. After the early-morning spike and subsequent pullback, it still remains about taking the pullback and continuing to follow. This rhythm mainly needs to watch how strong the continuation is in the afternoon. Go long first in the morning; in the afternoon, bullish continuation is likely to still be long. If it does not continue, then take the afternoon pullback as the opportunity to follow through.
Trading Suggestions:
BTC: 哆 around 62500—62000; target near 64000-64900
ETH: 哆 around 1735—1710; target near 1800-1835
$BTC $ETH