Hold on to your faith—don’t get shaken off the train. Every night-time torment is the prologue to future wealth. Crypto markets don’t let loyal believers down; in the darkness before dawn, I’ll fight it out with you to the bitter end! Recap of Thursday’s price action over the past few days: After Bitcoin stopped at the 63,283 low in the early morning, it began a sideways-to-upward move, reaching a peak around 63,990 in the late morning, then faced resistance and pulled back to near the 63,318 low by evening. It then rebounded again to around the 63,980 high. Currently, Bitcoin is consolidating around 63,400. Ethereum’s intraday movement is basically in line with Bitcoin’s: it slid down to around 1,872 early in the morning, then bounced to a late-morning high near 1,899. It then met resistance and dropped back to the 1,874 low, before bouncing again to 1,896. Currently, Ethereum is consolidating around 1,880. The intraday high-short idea was executed precisely.
Looking at the bigger cycle structure, at the daily level the market is completing a repair phase in a retracement pattern. With the short-term bearish body candle now established, the bearish-dominant structure has already taken shape, and the downside potential has not been fully released yet. Focusing on the 4-hour timeframe, the lower Bollinger Band has been gradually opening, further amplifying the bearish trend. Currently, price is hugging the lower band, and rebound momentum is seriously insufficient. The prior rally starting zone at 61,300 has now turned into a short-term strong resistance level. On top of that, the hourly chart is simultaneously showing weak pullbacks, and multiple timeframes form a confluence that leans bearish. Trading strategy: The main idea for today is clear—mainly look for selling on rebounds, and go with the trend.
Friday early morning Bitcoin: short around 64,000; target 62,500.
Friday early morning Ethereum: short around 1,900; target 1,850.
$BTC #美国7月CPI与PPI数据本周出炉 $ETH #美国7月PPI持平 $SNDKB #SpaceX空头持仓降至11%
Looking at the bigger cycle structure, at the daily level the market is completing a repair phase in a retracement pattern. With the short-term bearish body candle now established, the bearish-dominant structure has already taken shape, and the downside potential has not been fully released yet. Focusing on the 4-hour timeframe, the lower Bollinger Band has been gradually opening, further amplifying the bearish trend. Currently, price is hugging the lower band, and rebound momentum is seriously insufficient. The prior rally starting zone at 61,300 has now turned into a short-term strong resistance level. On top of that, the hourly chart is simultaneously showing weak pullbacks, and multiple timeframes form a confluence that leans bearish. Trading strategy: The main idea for today is clear—mainly look for selling on rebounds, and go with the trend.
Friday early morning Bitcoin: short around 64,000; target 62,500.
Friday early morning Ethereum: short around 1,900; target 1,850.
$BTC #美国7月CPI与PPI数据本周出炉 $ETH #美国7月PPI持平 $SNDKB #SpaceX空头持仓降至11%