Yueying: Bitcoin and Ethereum Market Analysis (July 6-7) - Will the Neckline Fail to Break the Double Bottom Become a Double Top? Short-Term Strategy Included

On the daily chart, Bitcoin's price action saw a series of consecutive bullish candles reaching around 64,000 before closing with a negative candle. The opening price today did not continue this upward momentum, instead opening with a bearish candle testing the middle Bollinger Band. The Bollinger Bands are narrowing, with short-term moving averages arranged in parallel. The MACD fast and slow lines are trending upwards with decreasing red histogram bars. The KDJ indicator is trending downwards, with support around the 50 level to watch. The VR indicator is consolidating around the 100 level. On the four-hour chart, after encountering resistance near the upper Bollinger Band and closing with a negative candle, the price action saw four consecutive bearish candles today, currently trading below the lower Bollinger Band. The Bollinger Bands are slightly widening, with short-term moving averages trending downwards. The MACD fast and slow lines are trending downwards with increasing green histogram bars. The KDJ indicator is turning downwards, with support around the 0 level to watch. The VR indicator is consolidating around the 150 level. Overall, after a slow and steady rise, the market failed to continue its upward trend at the start of the week, instead pulling back to test short-term support around the middle Bollinger Band. The weekly level is around the 7-period moving average, and the daily level's lower support is also around the 7-period moving average and the middle Bollinger Band. Whether the bullish trend can continue this week depends on whether the weekly level is broken or not. Short-term support can be seen around 60500; a break below this level would likely lead to a further drop below 60000. Resistance is seen around 63200 for entry points. The side with the first trade will be the one with the better entry strategy. See short-term suggestions for Bitcoin: Long at 60900, Short at 62800 (Strategy activated, manage profits as needed). Ethereum was relatively resilient today, although it followed Bitcoin's decline, but there's still some distance to the daily middle Bollinger Band. The overall technical analysis of the daily and 4-hour charts can be referenced in conjunction with Bitcoin's. Resistance is seen below 1820, while support continues to be seen at the daily middle Bollinger Band. See short-term suggestions for further analysis. Auntie's short-term trading advice: Buy at 1690, sell at 1780 (For more cryptocurrency analysis, click on the image to see the homepage introduction and find Yueying) — I am Zhou Yueying.