7.7 Sunday BTC, ETH midday insights:
Overnight, the bullish trend of Bitcoin broke through strongly and pulled up. After a day of low-level horizontal consolidation, the price of the currency broke through the box and oscillated again, returning to above 58,000, although the range of shorts given last night was relatively low. The current market rebound is caused by the stimulus of the news "dovish remarks". We are generally optimistic about the bearish trend. The decline is inevitable. This is just a short-term rise. The market has not shown a large V-shaped reversal signal. Since the market is currently in the falling range, I personally suggest to cover the short position above and take some space to leave. Just look at the volatility during the day!
From the 4-hour chart of Bitcoin, after breaking through the box, the market was suppressed by the Fibonacci 58,500 line and quickly fell back into the box. There was no large-scale rebound. The current market support is above the middle track, and the moving average supports around 57,000. It is more appropriate to go long here. KDJ dead cross looks for callback, MACD hollow column weakens, intraday callback is not large, generally in the sideways consolidation stage during weekends, so go long first below, and go short after the rebound ends!
BTC midday strategy: 56800-57300 go long, the target is around 58000!
ETH midday strategy: 3005-3015 go long, the target is around 3060!
If you are still underwater and can't see the market trend clearly, if you are bullish, it will fall, and if you are bearish, it will rise. Follow me and pin it to share the profit code for free every day
