7.8 Midday BTC/ETH Market Analysis - Shiyuan View

The morning forecast of high-level pressure and weakening has fully materialized. The two major strong resistance levels of 64000 and 1800 firmly suppress prices. The 4-hour cycle continues the pattern of rebound and weakening, with prices continuously suppressed by the medium- and long-term pressure moving averages above. The recovery after this decline has not shown a reversal turning point.

The small intraday rebound is only a brief recovery after the decline and weakening. It is almost impossible to reverse the weak market with this little bullish momentum.

The 4-hour cycle shows continuous weakening of bullish momentum. Bulls are completely unable to sustain upward pushes. Every small rebound attracts selling pressure, leading to a high risk of further downside. Do not blindly chase longs and get deeply trapped.

BTC:
The morning short idea in the 63900-64000 range materialized, successfully breaking below the primary target of 63000. Short-term rebound resistance at 62800-63000 can be used to continue shorting along the trend. If it continues to break down, further look towards 61000.
After a retest and stabilization at 61000-63000, arrange long positions, target 63800-64000, stop loss 60500.

ETH:
The morning short idea in the 1790-1800 range materialized, reaching the primary target of 1740. Short-term rebound resistance at 1755-1760 can be used to continue shorting along the trend. If it continues to break down, further look towards 1710.
After a retest and stabilization at 1710-1740, arrange long positions, target 1780-1800, stop loss 1700.$BTC $ETH