Thursday Summary, Friday July 10 Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

When the rhythm is right, both longs and shorts yield profits. Reviewing Thursday's full-day market, the overall trend showed a weak corrective oscillation. After an early morning dip to around 61,660, the short-term selling pressure was released, but the previous low was not broken. A technical rebound then ensued, yet resistance was evident at higher levels. The bounce peaked at 63,200 with a long upper shadow candle, lacking volume for a sustained bullish breakout. Subsequently, the market consolidated sideways.

The early morning analysis clearly indicated a bearish outlook. The live trading layout involved shorting first then going long, achieving a total of 1,236 points on BTC and 47 points on ETH for the day. Trading does not require sticking to a single direction; adjust flexibly with the market.

Looking at the current chart, the overall market remains in a narrow consolidation range. Bulls have not broken through key resistance levels with volume, and the rebound highs are gradually descending, maintaining a weak structure. On the 4-hour timeframe, the candles are still running within the middle and lower bands. This rebound has not reached the previous high, representing a weak rebound structure that stalls near the middle band. Once the correction is complete, a re-test of key support below is likely. On the 1-hour chart, the rebound touched the upper band and then fell back, forming clear long upper shadow candles, with the rebound highs gradually lowering. If the short-term candle cannot break through the 63,300 resistance, it will fall back to test the 62,500 support. Holding this support maintains the range-bound oscillation, while a breakdown will lead to another test of 61,200, which is the critical lifeline for bulls. If lost, it opens new downside space.

Operational strategy: Prioritize shorting on rebounds. For short-term traders, a light position can be taken for a bounce at support levels, with stop-losses in place and position control.

BTC: Short on rebound at 63,300-64,000 resistance zone, targets 62,500 → 61,200
ETH: Short on rebound at 1,780-1,808 resistance zone, targets 1,700 → 1,660
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