🔴｜July 5th BTC Morning Interpretation
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Yesterday, I repeatedly emphasized the right-side breakdown; if it doesn't reclaim that short position, then short it. Subsequently, BTC gained around 1500 points in profit, while ETH also saw a profit of 70 points.
Last night, BTC experienced a very standard downward trend, so standard that it rebounded upon resonance with the left-side support, without even a false breakdown.
Now it has retraced to 108100, with a very clear support-resistance switch point at the upper level of 108500, which was previously a small support and will clearly become the current resistance.
For those who didn't have short positions earlier, pay attention to the 108500 level. If it can't break above and is suppressed, we can also enter short positions, but we need to be cautious of false breakouts followed by a rebound.
So your stop loss can be set a few hundred points above 108500, using three to four hundred points to continue aiming for a profit of 3500 points down to 105000.
ETH should just follow the same rhythm as BTC, and that's all you need to do. $BTC