7/3 Wednesday Market Review of Bitcoin BTC and Ethereum ETH Operation Ideas
Over the past two days, Bitcoin (BTC) and Ethereum (ETH) have shown significant volatility due to the impact of the news. On Monday, Bitcoin reached $63,800 but failed to break through, and then continued to decline. The hourly highs gradually decreased, and the bullish offensive was weak. After falling below $62,000 yesterday night, it failed to rebound quickly, causing our long strategy yesterday to fail. However, market fluctuations are normal, and you can still try long operations today.
current market conditions
In early trading today, Bitcoin fell to as low as $60,600, with the daily chart showing two consecutive negative lines. Although the trend of a small V shape formed above, the decline was mainly affected by the news. Bitcoin is still seeing new capital inflows every day, and the bottom has been gradually consolidated. Therefore, an extremely weak market is out of the question and is more likely to fluctuate widely within the range of $60,000 to $64,000.
Bitcoin operation ideas
Support and pressure levels
Support levels: $60,000 (first support), $58,500 (second support) Pressure levels: $62,500, $63,800
Operation suggestions
Long operation: Buy long orders in the area of 60,700-60,400 US dollars, with a target of 61,600-62,000 US dollars. Short Operation: Consider shorting if the pressure test area ($62,000) is not exceeded.
Ethereum operation ideas
Support and pressure levels
Support level: $3250 Pressure level: $3420
Operation suggestions
Long operation: Buy long orders in the $3,350 area, with a target of $3,420-3,450. Short Operation: Consider shorting if the pressure test area ($3450) is not exceeded.
Summarize
Considering the volatile nature of the market, current operations should be focused on the short term and chasing higher prices is not recommended. Focus on support and pressure levels, adopt a robust long strategy, and then consider shorting operations after the price reaches a high. Maintain rational and objective judgment, do not blindly chase ups and downs, and respond flexibly to market changes.
rational and objective judgment
The above strategies are for reference only. The market is changing rapidly and investment needs to be cautious. Adjust the operation plan according to real-time market conditions to ensure stable profits.
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