Wednesday, the short-term is weak as expected—play out ～
The market won’t run in only one direction forever. Sideways consolidation is both a pause in the trend and also a test of patience. Yesterday’s outlook was not very technical: any rebound should be treated as an opportunity to go short. On the downside, the key focus was the 63,300 level, which successfully matched the expected target. In terms of ETH, it’s moving in sync with the BTC rhythm as well, and the target was also set around 1,850.
In the current structure, it still leans weak. Continuing to rebound and test resistance ultimately still couldn’t stabilize above 64,000. During the day, keep looking for shorts around the resistance areas. The upper resistances are around 64,000 and 64,500. The supports are 63,000 and the low point. Only if the price breaks the low will there be a possibility for the bearish move to continue. If it doesn’t break, then it will mainly remain a choppy, back-and-forth consolidation.
Short BTC in the 64,000–64,500 range; target to watch is 63,000.
Short ETH in the 1,900–1,910 range; target to watch is 1,850.$BTC $ETH #美国7月CPI与PPI数据本周出炉
The market won’t run in only one direction forever. Sideways consolidation is both a pause in the trend and also a test of patience. Yesterday’s outlook was not very technical: any rebound should be treated as an opportunity to go short. On the downside, the key focus was the 63,300 level, which successfully matched the expected target. In terms of ETH, it’s moving in sync with the BTC rhythm as well, and the target was also set around 1,850.
In the current structure, it still leans weak. Continuing to rebound and test resistance ultimately still couldn’t stabilize above 64,000. During the day, keep looking for shorts around the resistance areas. The upper resistances are around 64,000 and 64,500. The supports are 63,000 and the low point. Only if the price breaks the low will there be a possibility for the bearish move to continue. If it doesn’t break, then it will mainly remain a choppy, back-and-forth consolidation.
Short BTC in the 64,000–64,500 range; target to watch is 63,000.
Short ETH in the 1,900–1,910 range; target to watch is 1,850.$BTC $ETH #美国7月CPI与PPI数据本周出炉