7.11 BTC, ETH intraday analysis: bullish forces have not yet exhausted, seize the opportunity of the last rebound to go short
Bitcoin was smooth sailing last night, changing the intraday bullish trend, turning the gun downward to stop the decline near 57,000, ending the three-day positive line, and starting to close the negative line. Although it missed the opportunity last night, the general direction of the shorts is still strong. It has been emphasized many times before that the more the market rebounds, the more opportunities it gives to go short, just go with the trend!
From the 4-hour level, the moving averages of Bitcoin began to cross each other and narrowed. Suppressed by the 60-day moving average, the upper bull space is limited, and the hourly line continues to form pressure near 58,500. It broke through and fell below this position 5 times. There is basically no rebound strength. The battlefield is still the main field of the shorts. There is no need to be too entangled in this market. Follow the market trend to operate, and there will always be gains, so go short immediately at the 58,500 rebound line!
BTC intraday strategy: go short at 58,300-58,800, and the target is around 57,000!
ETH intraday strategy: short at 3120-3140, target around 3070!
