Insights on Bitcoin's afternoon market on Monday, July 8

At the beginning of the week, Bitcoin ushered in a round of sharp declines in the morning. The price of the currency began to fall from the 57400 area, and rebounded after reaching the lowest level of 54260. It is currently under pressure near 55800. In the morning, the price of the currency rebounded to 56800 near the 56300 area. The market did not give any chance to rebound at all. The market went straight down, and the idea of ​​shorting was to eat up 2000 points of falling space. Although there was a rebound at the moment, the trend was still bearish, so the operation continued to maintain the high-altitude thinking.

At present, the daily trend is still weak and downward, and there is basically no rebound action on the disk. In the 4-hour chart, it rebounded after the continuous negative retracement and the pin bottoming out, but this round of rebound did not break through the intraday starting point, so the shorts are still the main market sentiment. Don't change your subjective thinking because of a little rebound. The rebound is not a reversal, and the change in trend will not change because of a small rebound. The downward trend remains unchanged, and you can continue to maintain a bearish thinking!

On Monday afternoon, it is recommended to short Bitcoin around 56000-56300, and the target is 54000-53000.

On Monday afternoon, it is recommended to short Ethereum around 2930-2950, ​​and the target is 2840-2800.

There is only one kind of failure, that is to give up halfway. As long as you persevere, success will surely be waiting for your embrace in the front.

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