Gu Jingci 7.8 Bitcoin/Ethereum Short Orders Retreat as Expected, Will Continue to Fall

Bitcoin/Ethereum have repeatedly reminded in recent days to go short on rallies and add to short positions, with prices repeatedly spiking high and then falling back, leaving ample room. The latest few 4-hour candlesticks show prices retreating from highs with very low volume, indicating insufficient upward momentum. On the daily chart, after a strong rebound at the beginning of the month, prices have encountered significant resistance above, closing negative for two consecutive days with highs not breaking through, forming signs of a short-term top.

On the technical indicators, the 4-hour DIF line has crossed below the DEA line to form a death cross, the MACD histogram is negative and expanding, showing that short-term bearish power dominates and downward momentum is increasing. The MA moving averages on the daily and 4-hour charts are all turning downward, with clear overhead pressure and weak trend, so prices will continue to fall.

Trading suggestion: Continue to go short on Bitcoin around 62800 to 63300, targeting 60500 to 61500; continue to go short on Ethereum around 1760 to 1780, targeting 1650 to 1700.

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