Gu Jingci: 7.18 Bitcoin & Ethereum Evening Trading Strategy With Market Analysis

Bitcoin/Ethereum has maintained a sideways range from the morning session to now. This kind of consolidation is more like a continuation in a downturn, and the downside room afterward is still relatively much larger. The 4-hour chart shows the market is in a consolidation phase after a decline. In the early period, there were candles with long upper wicks accompanied by increased volume, indicating heavier selling pressure overhead. The current candle is a small bearish candle, showing the market is still weak. The daily chart shows that after a volume-backed rally, price quickly fell back, forming a top pattern. Then two consecutive large bearish candles confirmed the downtrend.

Technical indicators: On the 4-hour chart, both the DIF line and DEA line are operating below the zero axis. The DIF line in recent times has been trending toward converging upward toward the DEA line. The MACD histogram bars are negative and contracting, indicating that short-term downside momentum has weakened somewhat, but the overall market is still in a bearish regime.
- RSI: On the 4-hour chart, RSI14 is 47.58, sitting in the neutral zone, slightly bearish, and not showing any obvious overbought or oversold signal.

Evening trading suggestion: For Bitcoin, enter a short around 64,200, add to the short around 65,000, with a target around 62,500; for Ethereum, enter a short around 1,845, add to the short around 1,875, with a target around 1,780. If it breaks down, continue to look toward 61,000 and around 1,740.
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