7.9 Morning Market Views

After a late-night surge to around 64,200, the upward push immediately lost strength. Yesterday was a steady, one-way drift lower all day. In the evening, the low was driven down to 61,500. This entire leg of the “downward decline” has played out completely, and the selloff momentum has been almost fully used up in the short term.

Since 64,200 yesterday, the market has kept falling, and the downtrend only started to slow down gradually in the evening. The market has entered a range of back-and-forth consolidation at low levels. The K-line has formed a bottom-turn and stabilization signal. In the morning, buyers entered and pushed up quickly, and prices are currently consolidating around 62,000. In the short term, this is only a corrective rebound after a major drop, and it cannot change the overall downward trend. Every round of rebound will face pressure and then roll over again, while multiple layers of resistance above firmly cap the upside.

The core thinking for today remains unchanged: rebounds should continue to be shorted. Be patient and wait for the pull-up to face pressure. Enter positions to short in the 62,650-63,150 range. The first target is 61,800. If it breaks below, then look toward 61,290. If 61,500 does not break, you can lightly open a small position to short for a brief, small-scale bet on a repair. This upswing is only a temporary rebound in the middle of the decline—when the rebound has run its course, that’s when the chance to short comes. $BTC $ETH #美终止对伊朗石油制裁豁免