Brief analysis of market dynamics on July 5:
Bitcoin's 4-hour chart shows that the market has recently experienced a wave of strong adjustments, with a large negative line swallowing up the positive lines of the previous two days, forming a "yin-yang" pattern, indicating that the short-term bullish momentum has significantly weakened. At present, the daily trend line has a dead cross extending downward, showing that the power of shorts is gradually increasing, while the bulls are unable to do what they want, and the overall market maintains a downward trend. While bears are showing signs of light volume, bulls have taken a beating and other technical indicators are also tilting towards the bearish market. Under this weak pattern, investors are advised to remain cautious and pay attention to short-selling opportunities after the rebound.
Operation suggestions:
Bitcoin (BTC): It is recommended to consider selling near 57,700, with a target of 55,000.
The market changes rapidly. The above suggestions are for reference only. Specific operations should be based on the actual market conditions.
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