7.8 Monday BTC Evening Insights:
Bitcoin rose strongly by nearly 3,000 points due to the news, and the market shorts were directly pulled out, which was really embarrassing. The overall market remained in the low-level adjustment and repair stage. At the daily level, the Bollinger Bands were still in the downward channel. Stimulated by the transfer of BTC data by the German government, the bulls were proud again. The market basically maintained an upward trend. After the adjustment, the short trend will continue. Let's wait and see!
From the 4-hour line, the technical structure clearly shows the K-line continuous positive trend, and the W double bottom is basically formed. If it breaks through 58,500, it will go out of the W completion pattern. With the suppression breakthrough of 58,000, the market gives us an upper shadow line, and the moving average begins to turn and slow down. At present, the strength of this wave of callback is not large. The upper pressure level is around 58,500, so this wave of callback will not interrupt the rising rhythm in the short term. The rebound is for a better decline. Continue to do short in the subsequent rebound!
BTC Evening Strategy: 58300-58700 do short, and the target can be around 57,000!
ETH evening strategy: short at 3095-3115, target around 3040!
