Gu Jingci: Bitcoin/Ethereum Evening Trading Strategy with Market Analysis (July 5th)

Bitcoin/Ethereum retreated after surging in the early hours of last night, rebounding somewhat during the day and evening. Our short positions above 63000 and 1790, which we initiated early in the morning, saw the price drop to 62400 and 1747 respectively, indicating further downside potential for Ethereum. Currently, the price is surging again; watch for resistance at last night's high. The 4-hour Bollinger Bands are starting to narrow, indicating weakening upward momentum. If the price fails to break the high, it will likely retest the top and then fall back, potentially at a faster pace. Given that tomorrow is Monday, even if the price continues to rise next week, it will likely pull back early in the week to test lower support before rebounding. Often, the same strategy can be profitable for some and unprofitable for others; it all depends on how you execute it. Evening trading suggestions: Short Bitcoin around 62800, targeting 60500 to 61500; Short Ethereum around 1775, targeting 1680 to 1720.