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7.14 BTC/ETH evening thoughts
The overall downtrend channel continues. This rebound is only a minor repair during the down move; the trend has not reversed.
Resistance overhead is clearly strong. Whenever price touches the resistance level, sell pressure shows up to suppress it. The rebound momentum is steadily weakening, and buyers are struggling to keep the move going. The market will likely first dip to test support.
Trade plan
BTC: Do orders in the 62,700-63,000 range for a short. Target 62,000-61,500
ETH: Do orders in the 1,790-1,800 range for a short. Target 1,770-1,760$BTC #ETH$ETH