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7.9 Morning Thoughts
In the early morning, after a high touch to the upper Bollinger Band, upward momentum weakened, and it entered a consolidation range near 62200. Short-term moving averages flattening, selling pressure above is heavy. This rebound is just a technical repair after the decline; the bearish trend on the larger timeframe remains intact. Going short with the trend is fine!
BTC: Rebound to 63000, resistance at 63800 go short, targets down to 60900, 60000
ETH: Rebound to 1760, resistance at 1790 go short, targets down to 1700, 1650
$BTC