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7.3 Early Morning Bitcoin and Ethereum Analysis and Trading Suggestions
Bitcoin surged and then pulled back in the evening, the script completely following our projection! The pre-targeted high-altitude area of 61800-62300 precisely captured this decline.
From the 4-hour level perspective, although there were two small rebounds, after hitting the upper resistance line, it completely stopped rising. Ultimately, a doji candle formed and began to pull back, which released a clear signal that the selling pressure above is heavy, and the bulls are exhausted.
The short-term is currently at a critical turning point, but due to the weak buying power from bulls, it is difficult to see a reversal upward overall. Therefore, the subsequent trading strategy is very clear: as long as the price rebounds upward and cannot break through resistance, it will be an excellent opportunity for us to enter and go short.
Bitcoin operation: go short around 61800-62300, target around 60500-59800
Ethereum operation: go short around 1700-1730, target around 1550-1600 area
#币圈 $BTC $ETH