Foreword: Investment involves risk, and operations must be cautious.
Article review takes time, and there may be delays in publication. The article is for reference only. Welcome to read!
The writing time of this article: Beijing time July 9, 15:30
Market Information
1. Axel Adler Jr.: The Bitcoin futures market is seller-dominated, with $62,000 as a key resistance level;
2. Blockchain security experts: AI accelerates hacker attacks, and cryptographic protocols need continuous review;
3. Federal Reserve Chair Kevin Walsh will attend the Senate Banking Committee hearing on July 15;
4. Over $84.9 million has flowed out of the U.S. spot BTC ETF market;
5. Alfa Bank plans to become a digital custodian, providing cryptocurrency-related services;
Market Review
Bitcoin dropped yesterday, with a short-term low around $61,514, then rebounding slightly to around $63,155, and as of now, the price is around $62,850; Ethereum also saw a short-term drop yesterday, with a low around $1,712, then rebounding slightly to about $1,761, and as of now, the price is around $1,752;
Market Analysis
Bitcoin
Looking at the 4-hour chart, the market has shown a slight drop, but it has not reached its destination. The lowest drop point is around $615. Our previous short position was planned around $64,000, reaching $61,500 offered about $2,500 in profit. Although it did not reach the $60,000 target, the profit is still decent. We have informed everyone to reduce positions and apply a trailing stop loss. I wonder if everyone has taken corresponding measures; if not, there is currently still over $1,000 in profit. In terms of market movement, the decline has not ended, and the target range for this drop is $60,500-$59,300. Short positions can continue to be held, and friends who have exited can re-enter around $63,100. The target remains unchanged, with a stop loss around $65. Please grasp the entry opportunity yourself; for short-term trading, control risks and manage profits and losses yourself;
Ethereum
Looking at the 4-hour chart, Ethereum is also showing a slight decline but has not accelerated. The drop range is between $1,635-$1,580. Our previous short position was in the range of $1,787-$1,775, with the lowest point given last night being around $1,712, resulting in a profit of about 60-70 points. Those who have reduced positions or exited can continue to short today, aiming around $1,760, with the target still around $1,600 and a stop loss at $1,860. There is still room for further decline, so please grasp the entry opportunity yourself; for short-term trading, control risks and manage profits and losses yourself;
In summary:
The decline in the market has not yet reached its destination, continue to maintain a bearish outlook;
This article is time-sensitive, beware of risks. The above are personal suggestions and are for reference only!
Follow the WeChat public account Crypto Old Zhao to discuss the market together;
The market is always more noise than signals. Missing a market opportunity is not a loss; profits after exiting no longer belong to you. Not every K-line needs to be participated in; a day without trading is not a waste of time.
Not every market movement is satisfying, not every trade is successful; that is just noise in the pursuit of profit. Rather than seeking breakthroughs in technology, I focus more on psychological development. Most people are not defeated by themselves but by the selves that trap them in difficulties.
Even if life or trading is not satisfactory, believe that there is light in the world, love among people. Even in small moments of happiness in life, embrace them with a smile. Only by overcoming yourself will the future market return unexpected surprises! Keep going, people of the crypto world.
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