Bitcoin/Ethereum have been trading sideways at high levels over the past few days. We repeatedly warned about the pump-and-dump shorts and adding to short positions. The market continued to fall all the way to around 64,600 and 1,860, and the overall space is visible. Currently, the market has rebounded somewhat again, which once more gives an opportunity to enter short positions. The 4-hour chart shows that the recent period has been range-bound. The latest candlestick is a bullish one, indicating that short-term buying pressure has strengthened. The daily chart yesterday formed a huge bearish candle with a long lower wick, showing strong bearish power, but there is also buying support below. Today’s bullish rebound has happened, but it has not yet fully recovered yesterday’s drop. On the monthly chart, from July to date there is a big bullish candle, showing a strong rebound at the monthly level, but it still remains in the rebound phase within a long-term downtrend.

Technical indicators: On the 4-hour chart, both DIF and DEA are above the zero line, but DIF has crossed below DEA. The MACD histogram is negative and contracting, indicating weakening short-term bearish momentum, but the overall trend still leans bearish. On the monthly chart, last month’s large drop came with a huge volume. This month’s rebound volume is currently relatively smaller, so you need to watch how volume changes going forward. The trend still leans bearish; the rebound is just an opportunity—what matters is whether you can seize it.

Trading suggestions: For Bitcoin, at the current price around 65,700, go short directly, with a target around 64,000. For Ethereum, at the current price around 1,900, go short directly, with targets in the 1,800 to 1,840 range. If it breaks down, continue to look toward 61,000 and around 1,730. Analysis and strategy are for reference only—risk is on you. This article’s review and publication does not have timeliness; the real-time situation prevails!