July 9th Sister Li's early morning analysis:



BTC surged to 64,200 today then fell consecutively, breaking through the lower Bollinger Band directly to around 61,500; ETH simultaneously dropped sharply from 1,810 to the 1,710-1,720 area.

On the 15-minute timeframe, the Bollinger Bands are opening downward, with the market fully controlled by the bears. The chart shows typical characteristics of volume expansion on declines and contraction on rebounds, indicating extremely weak long-side support. In the short term, focus on BTC's support at 61,500; a break below will further amplify the decline. To ease the downtrend, price needs to firmly hold above 61,900 with volume, and only a breakout above 62,400 can completely reverse the bearish pattern. All rebounds face selling pressure, and following the trend with short positions remains the main strategy.

Trading suggestions:
BTC: Take short positions in batches in the 62,300-62,800 range; target: 61,800-61,000; if support breaks, continue looking lower
ETH: Take short positions in batches in the 1,750-1,780 range; target: 1,700-1,670; if support breaks, continue looking lower
$BTC $ETH
BTC-2.03%
ETH-2.07%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 6
  • Repost
  • Share
Comment
Add a comment
Add a comment
GateUser-de2a15eb
· 3h ago
Sister Li's analysis is so timely, staying up all night watching the charts is really dedicated.
View OriginalReply0
FragmentedSilverStarMap
· 3h ago
Already placed a short order at 62800, stop loss at 63200, catching a wave.
View OriginalReply0
PatinaTradingBell
· 4h ago
The rebound with shrinking volume is indeed a dangerous signal; the bulls are now paper tigers.
View OriginalReply0
GateUser-b6d80ba0
· 4h ago
The big picture is clear, but the 61500 level feels like it may repeatedly chop back and forth—be mindful of your position.
View OriginalReply0
Don’tLetTheLiquidationAlarm
· 5h ago
If ETH can't hold 1710, then 1670 is next.
View OriginalReply0
View More
  • Pinned