$BTC 7.16 Wednesday Early Morning Bitcoin and Ethereum Market Analysis and Trading Suggestions

The cryptocurrency world specializes in various discontents: just when you think the waterfall has ended, it suddenly stabs back; you feel a breakout is imminent, and it instantly creates a door; just after you stop-loss, it rebounds; just when you chase the rise, you get trapped. The market is like a fickle lover, giving you honey during the day and feeding you arsenic late at night. The most devastating thing is—clearly having the direction in sight, yet being swept by the spikes before the market starts moving; this painful experience of slapping one’s thigh is well understood by seasoned traders. Today's market review shows that Bitcoin has been under pressure since the morning's high of 120430, overall presenting a trend of fluctuating downward movement. The intraday low touched 116227, and although there was a bullish counterattack in the evening, pushing the price up to a high of 118499, it failed to stabilize effectively, subsequently dipping again to a low of 115678. For Ethereum, after touching a low of 2930, the price consolidated and rebounded to a high of 3066, but the momentum could not sustain, falling back to around 2965 in the evening. The bullish outlook provided by Xiao Ge in the morning did not materialize as expected, regrettably stopping loss at 500 points. The strategy was adjusted in time, entering a short position for Bitcoin at 118100 and taking profit at 116500, successfully capturing 1600 points of space. The evening strategy was even more precise, establishing another short position at 118300 after the rebound, taking profit at 116000, gaining another 2300 points, while for Ethereum, the short position at 3050 was closed at 2980, steadily securing 70 points of space.

The 4-hour chart shows a dramatic reversal in market trends again. After experiencing a series of strong bullish candles, market sentiment suddenly shifted, forming a sustained downward trend of consecutive bearish candles. Although the bulls attempted multiple counterattacks during the day to regain lost ground, each rebound appeared weak, ultimately failing to break through key resistance levels. In the most recent rebound, trading volume noticeably shrank, with insufficient confidence from the bulls and low willingness to chase rises, leading to an expectation of continued bearish movement in the early morning.

Bitcoin: Short around 116700-117200, short-term target 115000

Ethereum: Short around 3030, short-term target 2920