7.9 Midday Thoughts

Although the big “BTC” midday range is small, the price rebounded and probed as high as 62,800—don’t get fooled by this bullish candle. There’s no volume and no strength; it’s nothing more than a pin. The short-side structure hasn’t been broken—this rebound is simply an opportunity to go short.

Short BTC in batches at 63,200–63,800. Targets: 61,500 and 60,000;

Short “ETH” in batches at 1,765–1,790. Targets: 1,720 and 1,690.