7.11 Midday Analysis

Everyone, have a great weekend. The long side’s red bars appeared, with a slight decrease in volume. The upward slope of the DIF slowed, and the upward momentum of the bulls began to show marginal weakening. Both lines are still in a high-range zone; there isn’t enough momentum for continued upward movement. On the 4-hour timeframe, there is a possibility of the two lines turning around, the red bars continuing to shrink, and even forming a high-level dead cross. Once a dead cross forms, the automated take-profit sell pressure will likely be released in a concentrated way, which could trigger a round of sustained pullback action. The profit positions that the bulls built up earlier may rush to exit. Weekend volatility is not big. Personally, I suggest a target range near 64,300-64,900, and a further target near 63,600-63,000 #BTC #ETH