7.14 Tuesday morning

Yesterday’s market action fully matched the expected path. Big BTC effectively broke below the key support level of 62,500, fully opening the bearish trend; in the early hours, it dipped to a low of 61,806. ETH followed the same weakness, with the low reaching 1,748. Yesterday’s short entries taken in line with the move were perfectly executed—steadily capturing swing profits, with the rhythm fully under control.

The four-hour structure is extremely bearish. Price rapidly broke through multiple layers of support, and has been trading under sustained pressure along the lower band of the Bollinger Bands. Bearish momentum is strong. The earlier rebound attempt above 64,000 was rejected and fell back, closing with a long upper wick; heavy sell pressure above and no force behind any meaningful bullish counterattack. The moving averages have a bearish cross and are diverging downward, indicating extremely strong continuation of the bearish trend.

There are no signs of a bottoming out and stabilization in the short-term. If price cannot quickly reclaim the Bollinger middle band, further downside is likely, even testing the prior low area around 57,758. Do not blindly bottom-pick at this time; the overall bias is mainly bearish following the trend.

BTC: short in the 62,300–62,800 range, target 61,500

ETH: short in the 1,780–1,800 range, target 1,730; if broken, then look lower