Gu Jingci: Bitcoin/Ethereum Morning Trading Strategy with Market Analysis (August 2nd)

Since the previous short positions were initiated on Bitcoin/Ethereum, the price has been steadily declining to around 1820 and 62200 in the early morning, with a clear downward trend. Currently, the price has briefly rallied again due to Trump's comments, but such news is essentially meaningless rhetoric. The trend itself had already changed as the daily highs continued to fall, and this is merely a rebound due to oversold conditions triggered by news. On the 4-hour chart, after two large bearish candles with high volume, the price has rebounded rapidly, but the overall trend remains downward. The long lower shadow on the early morning candle indicates some buying support at lower levels, but it failed to reverse the overall decline. The two consecutive large bearish candles with huge volume on the daily chart indicate strong selling pressure, confirming the short- to medium-term downtrend. On the 4-hour chart, both the DIF and DEA lines are below the zero line, with the DIF line below the DEA line, and the MACD histogram is negative, indicating a bearish market. Although the recent MACD histogram has narrowed its negative value, potentially suggesting a slowdown in the short-term decline, the overall bearish pattern remains unchanged. Furthermore, the significant increase in trading volume during the previous two days of decline further confirms the heavy selling pressure in the market, with the downward trend supported by increased volume. Trading recommendations: Short Bitcoin around 63500, with a target of 61000 to 62000; Short Ethereum around 1880, with a target of 1780 to 1820.