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Gu Jingci: Bitcoin/Ethereum surged and then fell as expected on July 6th; continue shorting on rallies.

2026-07-06 16:03:59
Shareshare
During the daytime trading session, we repeatedly suggested shorting at 63400 and 1785 for Bitcoin/Ethereum. The price subsequently fell to around 61300 and 1728, allowing short positions to take a good profit. Currently, the price has rallied again, presenting another opportunity to short. However, there is significant resistance above, and the market is fluctuating with weak momentum. It's crucial to be prepared for trend volatility and manage profit margins carefully. The Bollinger Bands on the 4-hour chart are narrowing after a period of high-level consolidation. This pattern of consolidation without breaking the highs while the lows are trending lower suggests a high probability of further rallies followed by pullbacks. Evening trading recommendations: Short Bitcoin around 63500-63800, with a target of 61000-62000; Short Ethereum around 1785-1800, with a target of 1680-1720.
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