7.24 BTC & ETH midday thought analysis

During the day, the price surged to test higher levels but met resistance and fell back. After pulling back to revisit the lower area, it briefly stabilized, and short-term long/short competition intensified. On the 4-hour timeframe, there was a drop from the high zone; resistance above gradually shifted downward. Rebound momentum has continued to be insufficient, and the overall market remains in a high-range, slightly weak consolidation pattern. Although there is a chance for a small correction in the short term, the overhead pressure is heavy and upside rebound space is limited. The larger trend still leans toward pressure-driven downside.

Rebounds that lack strength make it difficult to directly reverse the weak structure. At this stage, the risk of chasing longs is relatively high. Prefer to wait for rebounds to meet resistance before setting up short positions. Look for entry opportunities in the upper resistance zone: when the price rebounds to push higher, that’s a chance for shorts—don’t blindly bottom-fish at low levels to赌 a reversal.

Trading recommendations:
For BTC: If it rebounds to around 65,600–65,900, go short directly. Set stop loss around 66,200. Targets to watch in order: 65,000–64,650.

For ETH: If it rebounds to around 1,900–1,915, go short directly. Set stop loss around 1,940. Targets to watch in order: 1,860–1,835.
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