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Gu Jingci: Bitcoin/Ethereum surged again tonight at 7.5, but a sharp drop is expected.

2026-07-04 16:33:55
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Bitcoin/Ethereum surged again this evening, touching around 63,000 and 1,800 respectively. Those who didn't exit their short positions earlier were forced to exit with small losses. At this level, using small losses to bet on a pullback is quite profitable. Currently, the price is holding above its highs, indicating a strong overall trend. However, there is strong resistance around the previous highs of 63,500-64,000 for Bitcoin and 1,850 for Ethereum. Firstly, the 63,500 level for Bitcoin is a previous important support/resistance level; it's not advisable to chase the price higher near this level. Ethereum has seen multiple short-term rallies, suggesting a potentially large pullback. The external situation is also not favorable; if the trend deteriorates further, a larger decline is possible. Early morning trading suggestions: Short Bitcoin around 63,000-63,500, target 61,000-62,000; Short Ethereum around 1,790-1,810, target 1,680-1,720.
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