🪝 July 8th Afternoon Market Insights. 🪝
$BTC Perspective:
The liquidity of bulls around 107,000 for Bitcoin, you say it hasn’t been cleared! It has cleared part of it, but has it been completely cleared? There’s still a little residue left; what new tricks are being played here?
Bitcoin broke through 107,743 with volume; the hourly level's closing price is above 107,743, chasing long positions on the right side, with a stop loss on a break.
107,470 saw a volume drop that could not recover; chase short positions on the right side, and a stop loss on recovery. Pay attention to volume changes and manage stop losses well.
107,190 appeared to have a false breakdown; recover with a light long position of one hand, with a stop loss at the low of the false breakdown or below 106,370. If it can’t recover, don’t go long.
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For Bitcoin at the hourly level, breaking through 108,210 and stabilizing looks upward to 108,621-109,067; if it can't go up, it can't be viewed upwards at all.
Be cautious about shorting Bitcoin if a 2B false breakout appears above 108,621; stabilize above 109,120 with a stop loss.
Conservative players wait: long at 106,315, stop loss below 105,186.
The downward trend line drawn in the hourly Bitcoin chart has been completely broken, and attempts to rebound above the trend line have failed.
Currently, this downward trend line is the resistance for Bitcoin. Before recovering above the trend line, try to focus on shorting on rebounds. Whenever Bitcoin recovers this downward trend line, look for opportunities to go long; otherwise, you can only take short-term longs, draw your own conclusions.
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Upper resistance: 108,264-108,639-109,103
Lower support: 107,211-106,315-105,186
At the 4-hour level, breaking below 107,383 looks downward to 106,346-105,217.
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$ETH Perspective:
Ethereum broke through 2,536 with volume; chase long positions on the right side and manage stop losses.
If it breaks below 2,525 with volume, chase short positions, and manage stop losses well.
Pull back to 2,486 to confirm support is effective with an additional long position, and a stop loss below 2,451.
Ethereum needs to stabilize above 2,557 to look upward to 2,585-2,604; it must be said that Ethereum is indeed quite strong.
Be cautious about shorting one hand if it reaches 2,585; stop loss at 2,516 if it breaks.
Left-side orders: long at 2,458, stop loss below 2,429.
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Upper resistance: 2,554-2,585-2,616
Lower support: 2,522-2,501-2,474
At the 4-hour level, breaking below 2,505 looks downward to 2,454-2,410.
In the hourly Ethereum level, all highs and lows are decreasing. Do you still want to mindlessly long? Only when there is a higher high and the pullback does not show a lower low can you go long. Meeting adjourned.
$BTC