7.8 Wednesday 3️⃣ evening

Bitcoin faced downward pressure during the daytime, and around midday the price dropped sharply due to external statements, with long positions being liquidated again. The earlier repeated logic of shorting at high levels has now been validated.

On the geopolitical front, US-Iran tensions have escalated, risk appetite has plummeted, capital is rapidly exiting crypto assets, and the rebound strength for longs is extremely limited. There is dense overhead resistance, with the short-term moving average system and trendline forming a double suppression, significantly compressing the rebound space. In this sentiment-driven market, the odds of buying the dip against the trend are low, and shorting at highs with the trend remains the most risk-averse approach.

For this evening, it is recommended to continue watching for a second shorting opportunity after a rebound tests resistance. Strict risk management and patience for a right-side confirmation signal are advised.

Suggestions:
BTC: short near 62500-62800
Target: 60800-61200
ETH: short near 1760-1780
Target: 1690-1710