7.28 Morning Bitcoin and Ethereum Market Analysis

Last night, U.S. stocks opened higher and then fell. Big BTC (a.k.a. “Da Bing”) rose with a slight increase in volume, climbed to around 65,700 again and met renewed pressure and stalled. It then quickly dropped back to around 65,000, printing a long upper wick. Immediately after, “Kong Tou” took action again and pushed the BTC price back to the 64,500 area. In the early hours today, BTC rebounded on lower volume and recovered to around 64,900. Soon after the U.S. stock close, BTC again saw “Kong Tou” increase volume, broke below the 64,000 support, and headed straight toward the 63,000 level.

ETH was also similar: after “Da Bing” rebounded but failed to gain traction, “Kong Tou” repeatedly increased volume, dropping from 1,977 to around the 1,865 area. There is no guaranteed winning method— the hardest-to-break barrier is always yourself. The market won’t lie; most losses are driven by desire and luckiness together.

In the recent period, on the daily line, “Da Bing” and “Kong Tou” have been taking turns exerting force and have not formed a clearly obvious trend line. From the BTC 4-hour level, there is currently no obvious signal of a bottoming out. In the short term, “Kong Tou” still holds an advantage, but the KDJ is about to enter an extreme oversold zone, so a short-term oversold rebound and repair is possible. If BTC breaks 63,000 again, then the double-top neckline at around 67,000 (62700) on the larger timeframe will face a test, and the medium-term “Kong Tou” head posture will be further confirmed. So, we are not in a hurry to bottom-fish now. Instead, wait for a clear bottoming-out signal around 63,000, then consider a light entry (“trial longs”) to test a rebound and repair. If the rebound faces strong resistance around 64,000, then only after that consider taking the position again (“go back in with Kong Tou”).

On the ETH 4-hour cycle, it actually reflects stronger “Da Bing” momentum. This drop has not yet fallen below the previous low of 1,846. On the short term, ETH moves in sync with BTC. The rebound resistance to watch is around 1,900.
$BTC #长鑫开盘跌7.7% $ETH