Gu Jingci: Bitcoin/Ethereum Evening Trading Strategy with Market Analysis (July 9th)

Bitcoin/Ethereum traded in a narrow range throughout the day. While Bitcoin saw some overall upward movement, it wasn't significant. This pattern of a rapid drop followed by a narrow upward trend has created the illusion for many that the price has stabilized and is poised for another rally. Our bearish outlook, maintained since 64000 and 1800, remains unchanged. Although there has been some stabilization on the daily chart, the momentum is weak, and the market remains in a downtrend. The 4-hour chart shows recent price range-bound trading with a tug-of-war between bulls and bears. The latest candlestick is a small-bodied candle with a long lower shadow, indicating some support below, but selling pressure remains above. After reaching a high, the daily chart showed two consecutive bearish candles with significant volume, confirming a short-term downtrend. Currently, the candlestick is a small-bodied doji with decreasing volume, indicating weakening downward momentum and a consolidation phase. On the 4-hour chart, both the DIF and DEA are below the zero line, with the DIF below the DEA, and the MACD histogram is negative, indicating an overall bearish trend. However, the MACD histogram has recently shown signs of convergence, indicating a slowdown in bearish momentum and potentially foreshadowing a short-term rebound or consolidation. However, the two-day chart still shows a downtrend. Watch whether it can break through yesterday's daily high of 63800 and the 1785 level between midnight and 8 AM tomorrow. Evening trading suggestions: Bitcoin: Continue shorting around 63000-63500, with a target around 61500; Ethereum: Continue shorting around 1745-1760, with targets around 1670-1700, and further downside targets at 64000 and 1790.