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📅 End at: July 9, 16:00 UTC
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"Every trough is a preparation for a powerful leap." On the tumultuous journey of the crypto world, there are no smooth paths, only rugged climbs. When the market is sluggish and confidence is shaken, please remember: difficulties are only temporary. Maintain your faith and be brave in persistence, and you will eventually welcome your shining moment. Friday evening showed a volatile pattern. Bitcoin price made a strong push first, slightly rebounding to a high of 109,071 before encountering strong resistance above, and then fell under pressure. As midnight approached, Bitcoin price continued to dip, eventually finding short-term support at 107,291, halting the decline. The Ethereum market mirrored Bitcoin's movements closely, maintaining a synchronous volatile rhythm. After reaching an intraday high of 2,558 in the afternoon, Ethereum price began a downward channel, fluctuating lower until it dipped to 2,474, where it gradually stabilized, and the decline slowed down. Throughout the day, we made many short-term arrangements, but also touched upon medium to long term layouts. BTC totaled 2,584 points in the day, while ETH totaled 137 points, with limited short-term space not included in the actual trading.
From the current market perspective, on the four-hour level, after the market broke through the middle track of the Bollinger Bands with a large bearish candle, there was a brief rebound, but the strength of the rebound is very limited. Although there are signs of price recovery, the middle track of the Bollinger Bands has started to flatten and shows a trend of turning downward, while the lower track continues to extend downward, indicating that bearish forces are continuing to accumulate. The overall downward trend of the market has not changed and there is even a possibility of further weakening. Looking at the one-hour level, after experiencing a significant drop with six consecutive bearish candles, although there were two small bullish candles rebounding, this feels more like a technical correction within the bearish trend. Currently, the price has temporarily returned above the lower track of the Bollinger Bands, however, the KDJ indicator's three lines are turning downward from a high position, about to form a death cross, indicating that the rebound momentum is weakening and the bears are about to make a strong push again. The midnight strategy of retracement remains unchanged.
BTC can be shorted around 107800, targeting around 105000. ETH can be shorted around 2500, targeting around 2400. #BTC# #ETH#