7.17 Afternoon Bitcoin and Ethereum Market Analysis

The early price comparison continued its downward trend. Even in the midday session, it saw a sudden spike in sell volume, breaking through and falling below the 63,000 support level. The current low is 62,655. ETH also moved in sync: after breaking below 1,850, it continued to probe lower, reaching 1,819. Lows are being refreshed continuously now, forming a clear slow-drift bearish structure. Each time there is a small rebound, it is suppressed by fresh sell orders, indicating that bullish strength has not yet reassembled. The MACD fast and slow lines are still maintaining a bearish dead-cross state below the waterline, and at this stage there are no signs that bearish momentum has turned to negative growth.

In the short term, the bearish trend needs a high-volume bullish candle to reverse it. With the current oversold signals piling up, pursuing shorts-and-longs in terms of risk/reward is no longer favorable; however, bulls also urgently need a high-volume bullish candle to confirm the bottom support. For BTC, if a 15-minute timeframe stop-the-fall signal appears around 62,700–63,000, you can cautiously try going long. Set stops below 62,500, with targets at 63,200–63,500. If the rebound rises to 63,500–63,800 but does so on reduced volume and turns into a stall, then consider shorting BTC. The main idea is to wait for stabilization signals to appear before considering going long. For ETH, watch for signs of stopping the fall around 1,830; the key level at 1,850 needs to be confirmed. $BTC #GateDEX全面接入RobinhoodChain $ETH