7.8 Afternoon Bitcoin Market Analysis

This morning’s thinking was clear: first look for a pullback to confirm the support below. It was also said during the live stream that the “kuangtou” momentum is starting to gradually release; for the short term, the trend is biased toward “kuangtou,” so don’t keep going in to “duo” (long). Although the midday price first stuck down to 62500 and then quickly pulled back to around 63000, it did not cause an effective impact on the “kuangtou” side. Ethereum also reached the 1750 support area as expected, and even tested around 1740. If continuous pullbacks make your mindset unsettled—always wanting to quickly add positions to recoup losses—you often end up magnifying losses. When you let emotions run hot, all analysis and judgments become distorted.

Right now, Bitcoin is in a second pullback-and-confirmation structure after the broader move of rallying high then retreating. The price has been pulled back from 64691 over the past two days to the 62500 area, and this is precisely the upper edge of the early-July sideways range; it is also the accumulation platform before the prior breakout, giving it technical support significance. In the MACD, DIF continues to form a death cross below DEA. The “kuangtou” momentum is still present, but there’s no obvious sign of exhaustion. In the KDJ indicator, the J value has entered the oversold zone; K and D are sticking together at low levels, indicating there is a short-term technical rebound repair need. Overall, there are preliminary signals of stopping the fall around 62500, but the rebound lacks volume support. In the short term, Bitcoin will most likely range and consolidate within 62500-63200. For Ethereum, first look at how it fluctuates within 1750-1770, and pay attention to the direction of volume release. $BTC #美终止对伊朗石油制裁豁免 $ETH