8.3 early morning BTC/ETH market analysis Poetry’s view
Market review
BTC has been continuously consolidating and falling from the high of 65,722, with the low touching 62,228. It has seen a small rebound in the short term and is currently in the post-drop repair phase. The rebound strength is weak and has not yet reversed the bearish trend; as for ETH, its high at 1,982 gradually fell, probing the 1,820 low before a slight recovery. In the near term it remains weak, so don’t rush to bottom-fish for longs.
After this round of decline, the rebound is only technical; the sustainability of the bounce is in question, and bearish pressure on larger timeframes remains. In terms of execution, prioritize setting up short positions as rebounds meet resistance. When key support stabilizes, you can take a small position to participate in a short-term rebound, but avoid chasing longs against the trend.
BTC
Resistance: 63,600—64,300
Support: 62,300—61,800
Suggestion: Place short orders in the 63,600-64,300 rebound range, target 62,300; if it breaks, look toward 61,800. If it retraces to 61,800 and stabilizes, try a short-term long.
ETH
Resistance: 1,885—1,915
Support: 1,820—1,785
Suggestion: Place short orders in the 1,885-1,915 rebound range, first target 1,820; if it breaks down, look toward 1,785. If support at 1,785 holds, it can be used to gamble on a short-term rebound.
⚠️Short-term choppy trading continues—strictly control position sizing and focus on defense. $BTC $ETH