7.14 Morning Thoughts

BTC’s daily chart yesterday closed with a high-volume long bearish candle, clearly showing that seller/whale strength is very strong, and the short-term downward moving trend has already been confirmed.

Looking at the 4-hour chart, the current price is around 62,450, far below the 7-day, 30-day, and 120-day moving averages. Several moving averages are all sloping downward and form a seller’s stacked arrangement. The short-, mid-, and long-term trends are all weakening in sync. During subsequent rebounds, these moving averages will form layer-by-layer resistance.

For BTC, short around 63,000–63,500, with targets toward around 61,600–61,100.
For ETH, short around 1,800–1,840, with targets toward around 1,740–1,700.
$BTC $ETH #PreIPOs第二期OpenAI认购