Preface: Investment has risks, operations must be cautious.
Article review takes time, there may be delays in publishing, the article is for reference only, welcome to read!
The time of writing this article: July 7th, 13:37 Beijing time
Market Information
1. The net inflow of Bitcoin spot ETFs in the United States is $265.7 million, and the net inflow of Ethereum ETFs is $20.7 million;
2. BIT Official states that Bitcoin rose in July and is currently facing resistance at $65,955;
3. The New York State Supreme Court has received another amicus brief opposing the designation of Satoshi Nakamoto's Bitcoin as unclaimed property;
4. The state attorney general from the Democratic Party opposes Trump's tariff plan;
5. The US government is working to build a strategic Bitcoin reserve and cryptocurrency inventory;
Market Review
Last night, Bitcoin first experienced a slight decline, with the lowest point at 61,283, followed by a rapid surge, reaching a high near 64,729; Ethereum's trend was basically similar, with the lowest point last night at around 1,727, and the subsequent high at around 1,934; currently, it is showing a slight decline;
Market Analysis
Bitcoin
Looking at the 4-hour chart, yesterday's market showed a slight rebound, but it did not exceed expectations and is still operating within the pressure range. Earlier, our strategy was to short at 636 and 632, adding a position at 646. The market just gave us an opportunity to add to our position, and the average price after adding should be around 64,000. Currently, we have over a thousand points in profit and consider reducing the position of the short taken at 646, but can also continue to hold, setting a stop loss at breakeven. Whether to reduce the position or not, shorts can continue to be held. The holding target remains in the 60,000-59,000 range, to be managed on your own; for short-term trading, control risks and manage your own gains and losses;
Ethereum
Looking at the 4-hour chart, Ethereum's movement did not break through the high point of 1,848 and is still oscillating in the pressure range. We can continue to hold the previous short positions around 1,787-1,775. The breakout point is at 1,834, and it did not provide an opportunity to add at 1,870. The current price is near the break-even point; maintaining the previous strategy with the pressure remaining valid, waiting for a decline. The target is still around 1,600, manage on your own; for short-term trading, control risks and manage your own gains and losses;
In summary:
Bitcoin and Ethereum did not break through the pressure in the short-term rally; continue to hold shorts;
This article is timely, pay attention to risks; the above is only personal advice and for reference!
Follow the official WeChat account Crypto Old Zhao to discuss the market together;
The market is always more noise than signal; missing a market is not a loss. Profits after leaving are no longer yours. Not every candlestick needs participation, and not trading for a day is not a waste of time.
Not every wave of the market is pleasant, not every trade goes well; that is just noise in the pursuit of profit. Compared to seeking breakthroughs in technique, I pay more attention to mental building. Most people do not fail against themselves, but fail against the self that confines them to difficulties.
Even if life or trading is unsatisfactory, believe there is light in the world, there is love among people. Even the smallest happiness in life should be embraced with a smile. Only by overcoming oneself can the future market surprise you in unexpected ways! Keep it up, crypto community.
Disclaimer: This article represents only the personal views of the author and does not represent the position and views of this platform. This article is for information sharing only and does not constitute any investment advice to anyone. Any disputes between users and authors are unrelated to this platform. If the articles or images on the webpage involve infringement, please provide relevant proof of rights and identity documents and send an email to support@aicoin.com. The relevant staff of this platform will conduct an investigation.