Gu Jingci: On 7.17, the BTC/ETH short positions fell as scheduled; the rebound continues—go short again

The short-position idea for BTC/ETH that I reminded multiple times yesterday: especially a further add when ETH breaks below 1860 and is in floating profit. The market also kept retracing and falling, dropping all the way to around 62,600 for BTC and around 1,820 for ETH; the overall downside room is directly maximized. After dipping, the current market has rebounded somewhat, but the strength is not strong. In terms of trend, it is still a pattern of rally then pullback. The 4-hour K-line chart shows that in recent days there have been multiple consecutive large bearish candles, indicating that bearish momentum is strong and the market is in a short-term downtrend. On the daily chart, two consecutive big bearish candles appear, forming a bearish reversal pattern, suggesting that a short-term top has formed.

In the technical indicators on the 4-hour chart, the MACD DIF and DEA lines have both already crossed below the zero axis, and the DIF line remains below the DEA line while continuing to spread downward. The MACD histogram is negative and keeps expanding, showing that the bearish trend is strong and that downside momentum is sufficient in the short term. There is still room for further downside. The daily two-day bearish pullback rebound also provides a good opportunity to enter short again.

Evening trading recommendation: Continue to go short BTC around 63,300 to 63,800; targets are around 61,000 to 62,000. Continue to go short ETH around 1,840 to 1,860; targets are around 1,760 to 1,790.
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