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7.8 Thursday ⃣ Midday
As expected, there was a rebound at 9:00 AM this morning, which lured some retail traders who thought it was a reversal signal into chasing longs. This rebound seemed fierce and swift, but it fizzled out within a minute, and the subsequent trend fell further to around 61,600.
Currently, the market shows a brief upward trend, but the momentum is clearly weak. If the high reaches around 63,000 in the afternoon, it will confirm a double-top breakdown, triggering new selling pressure. The target will be directly at 61,000.
Suggestions:
BTC: Short near 62,900-63,000
Target: 61,200-61,600
ETH: Short near 1,760-1,780
Target: 1,690-1,710
#btc$btc