7.9 Midday Thoughts

Good noon, everyone. The morning market trend fully matched our earlier forecast: BTC surged to the 62,600 resistance level then faced downward pressure, slipping to around 61,600, a short-term pullback of nearly 1,000 points; ETH followed suit, dropping from 1,755 all the way to the 1,720 line.

Combining the current market structure: after a six-day consecutive green candlestick streak, a three-day bearish correction has begun, and the overall downward trend has been confirmed. On the 4-hour chart, the K-line has repeatedly broken below the moving average midline; the RSI and KDJ indicators are both diverging downward, with bearish momentum continuously releasing. On the hourly level, although there has been a slight correction of consecutive bearish candles with small bullish ones, temporarily stabilizing above the lower band, this short-term rebound is merely bearish consolidation and does not indicate a reversal.

The current strategy is very clear: respect the trend and do not try to catch the bottom; wait for the rebound to complete and then follow the trend to lay short positions.
BTC short near 62,700–63,200, target 61,300–60,800.
ETH short near 1,765–1,800, target 1,700–1,660.
$BTC $ETH #USD1链上质押享年化8.88%