7.8 Wednesday Noon

The morning market structure shows clear pressure, with the price center of gravity moving slightly downward. Currently, it is near the half-position of the second low point of the double bottom pattern. Maintain the rebound short-selling strategy. The risk-reward ratio for chasing longs at low levels is poor, so it is not advisable to enter.

Multiple technical indicators on the 4-hour level have simultaneously weakened. The MACD fast and slow lines have formed a death cross below the zero axis and the gap is widening. The RSI is under pressure below the 50 midline. The short-term rebound is more likely to be a bull trap structure at the end of an upward move, not a trend reversal signal. Each pullback is a window for short positions. The current downward correction space has not yet closed and still has some depth.

On the upper side of the market, short-term resistance focuses on the area near the 4-hour EMA14 line. The primary support below refers to the previous low structural level. If this level is lost, it will further open up downside space. In operation, patiently wait for a rebound to the resistance range before entering. Do not chase shorts, do not bottom-fish. Control positions and wait for confirmation of the right-side signal.
Suggestions:
BTC: Short around 63100-63400
Target: 61400-61800
ETH: Short around 1770-1780
Target: 1700-1720