On July 5, the early morning trend analysis and operation ideas of Bitcoin and Ethereum:
Overview of current trend: Bitcoin is still running the first 1-hour decline in the 4-hour decline, and the lowest has reached 56952, which is deeper than expected. The overall daily level correction may further reach around 53000. Since the 4-hour level center has not yet appeared, it is difficult to reverse directly at the daily level, which means that the consolidation time may be extended. It is expected that the daily correction may end in early August. If it fluctuates at a low level for another month, the subsequent upward breakthrough may have to wait until September.
The current situation of altcoins: At this stage, altcoins are undoubtedly the most painful and have entered a dark period. Only by enduring it can they see the light.
Short-term expectations:
1-hour level decline: Currently, the first 1-hour level decline in the third 4-hour level decline in the daily line retracement is running, and the lowest has reached 56952, which is only 400 US dollars away from 56552. It is likely to fall below. At present, the 1-hour level retracement is expected to be near the end, and it is observed whether it can stabilize around 56000 and make a 1-hour level rebound.
1-hour level rebound: It is expected that there will be a 1-hour level rebound tomorrow, with resistance around 60,600. Pay attention to the 59,000~60,000 area. There may be a third 1-hour level decline afterwards, and the target may be around 55,000 or 54,400.
Overall expectation: The daily line pullback is expected to complete 5 4-hour structures. At present, we need to further observe the completion of the 4-hour pullback.
15-minute level trend: The first 1-hour level decline may not be over yet, and it is expected that there will be another 15-minute level rebound and correction. Pay attention to the support around 56,000.
Ethereum (ETH) Analysis
Overview of current trend: Ethereum's 1-hour decline has not yet ended, and it is expected to rebound and pull back in 15 minutes. The support below is 3080~3000.
Short-term expectations:
1-hour level rebound: It is expected that there will be a 1-hour level rebound tomorrow afternoon or evening, with resistance at 3300, and pay attention to the 3250~3300 range.
The third 1-hour decline: pay attention to the support situation around 2900~3000.
Operational strategy and risk management
Stop loss strategy: The points in this article and subsequent articles have great stop loss significance. For example, if Bitcoin effectively falls below 65,000, it may go out of the daily level correction. At that time, the stop loss position of the long order should be set at 65,000. After the stop loss, wait and see, look for new opportunities, instead of holding the order.
in conclusion:
Both Bitcoin and Ethereum are currently at critical technical positions, and it is necessary to pay close attention to the short-term trend and the performance of key support levels. Traders should formulate corresponding stop-loss plans to cope with sudden changes in the market.
