Gu Jingci: Bitcoin/Ethereum Evening Trading Strategy with Market Analysis on July 9

Bitcoin/Ethereum has been narrowly oscillating within the day. BTC has seen a slight uptick but it isn't obvious. This fast decline followed by a narrow upward trend gives many the illusion that the market has stabilized and will rally further. We have maintained a firmly bearish view since 64,000 and 1,800, and that stance remains unchanged. Although the daily level has somewhat stabilized, the strength is weak, and it is still in a downward trend. The 4-hour chart shows the price oscillating in a range recently, with long and short forces locked in a stalemate. The latest candlestick is a small body with a long lower wick, indicating some support below, but selling pressure above persists.

On the daily chart, after hitting a high, two consecutive bearish candlesticks with volume appeared, confirming a short-term downtrend. The current candle is a small-bodied doji with shrinking volume, showing weakening downside momentum and the market entering consolidation. On the 4-hour chart, both DIF and DEA are running below the zero line, with DIF below DEA, and the MACD histogram is negative, indicating an overall bearish trend. However, the MACD histogram has recently shown signs of convergence, suggesting bearish momentum is slowing, which may indicate a short-term rebound or consolidation. But looking at the 2-day chart, the downtrend remains. Focus on whether the price can break yesterday's daily high of 63,800 and 1,785 from midnight to 8:00 AM tomorrow.

Evening trading suggestions: Bitcoin short near 63,000 to 63,500, target near 61,500; Ethereum short near 1,745 to 1,760, target near 1,670 to 1,700. Stop loss at 64,000 and 1,790 respectively.

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