7.9 Early Morning Bitcoin Analysis

From the 4-hour Bollinger Bands, both coins have fallen below the middle band, and the channel is slightly opening to the downside—indicating that the trend has already weakened. After the early-morning low briefly pierced the lower band, it rebounded slightly. The current price is now stuck in a range between the middle band and the lower band. This is a weak recovery following a big drop, with particularly weak rebound strength and absolutely no reversal signals. In the short term, the first heavy pressure overhead is the 4-hour Bollinger middle band: Bitcoin 63050, Ethereum 1769. As long as price cannot break and hold above this line with volume, all pumps are merely a “false rise” induced by short covering take-profit. If the rebound reaches near the middle band, it becomes an opportunity to go short at the high. The first support below is the Bollinger lower band: Bitcoin 61795, Ethereum 1728. The core strong support is the early-morning low: 61520, 1712. If, afterward, it breaks the early-morning low to the downside with volume, the next round of downside room will open directly, and the downward trend will continue. ​ Thursday morning trading ideas

Short Bitcoin near 62300-62600, target 61000

Short Ethereum near 17500-1770, target 1650#比特币 $BTC $ETH