July 8 BTC/ETH Market Analysis



From a technical structure perspective, the daily chart turned bearish after consecutive bullish candles, and the original downward trend line has been severely damaged. However, with a winding and oscillating upward movement, the pullback space is relatively large, but the overall impact is not significant. In the short term, after a dip and rebound, the moving average indicators have started to spread upward, driving bullish momentum upward. After the early morning high and pullback, it is still appropriate to follow the pullback and continue to position. This rhythm mainly depends on the continuation strength in the afternoon. In the early morning, go long first; if the afternoon momentum continues, it is still mostly long; if it does not continue, follow the pullback in the afternoon to position.

Operation suggestions:
BTC go long around 62500—62000, target around 64000-64900

ETH go long around 1735—1710, target around 1800-1835
$BTC $ETH
BTC-1.76%
ETH-1.98%
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
  • 1
  • Repost
  • Share
Comment
Add a comment
Add a comment
MoMo'er
· 8h ago
July 8 BTC/ETH Market Analysis

From a technical structure perspective, after consecutive positive daily candles, the chart turned bearish and entered a corrective phase. The original downward trend line has basically been seriously broken. However, amid a zigzag-style oscillating upward movement, the retracement space is relatively larger, though the overall impact is not too significant. On the smaller timeframes, after probing the lows and rebounding, the moving average indicators have all started dispersing upward, helping bullish momentum to release upward. After the spike high at dawn and then pull back, it still makes sense to catch the retracement and continue following up. In terms of rhythm, the main thing is to watch how strong the continuation is in the afternoon. In the early morning, go long first. If the bulls continue in the afternoon, it is highly likely to remain long; if they do not continue, then take advantage of the afternoon retracement to follow up.

Trading Suggestions:
BTC near 62500—62000, go long; target around 64000-64900 nearby

ETH near 1735—1710, go long; target around 1800-1835 nearby
$BTC $ETH
View OriginalReply0
  • Pinned