7.17 Midday Thoughts

In the morning, we mentioned BTC’s today’s watershed point is around 63,500. Now the low has already come to 63,401, and the market is exactly moving to this level.

Here, you can’t judge continued weakness just by breaking down once. Next, the more important thing is whether the price can quickly reclaim 63,700.

If it reclaims 63,700, then this dip may still be a false breakdown; if it keeps staying below 63,500, then around 63,000 will become the next support zone.

Trade Ideas

Go long near 63,300–63,000 for BTC, target 64,600

Go long near 1,820–1,800 for ETH, target 1,950#BTC