The essence of trading is survival, followed by profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to develop a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from Hongwei on cryptocurrency may not make you rich overnight, they can ensure your presence in the market. Only those who survive in the crypto space for the long term and persist until the end can achieve the results they desire. I hope you understand.

From the weekly perspective, the maximum retracement level should be around MA5, approximately 1063 points, while the next support level also points to 1065 points. On the daily level, the MACD momentum continues to weaken, and the market is primarily consolidating sideways; at the same time, the Williams indicator is at a high level, indicating a higher probability of downward adjustment today.

Looking at the hourly chart, downward momentum is still increasing. The previously nearly formed golden cross has not materialized, and the Williams indicator is operating at a low level, showing clear bearish signals.

Overall, the trading strategy should be to go short first and then long: first, seek a bottom with the downward adjustment, and once the bottom is established, the market is expected to start rising, with the upward target aiming to break the previous new high. However, it should be noted that it is expected to be difficult to reach around 105 points, as it has already tested around 107 points yesterday, and this area has undergone multiple consolidations, providing relatively solid support.

Strategy sharing for July 7-8:

Enter a short position for Bitcoin at a market price of 107800, with a take profit at 106800.

Enter a short position for Ethereum at a market price of 2526, with a take profit at 2470.

**——I am Hongwei, a teacher focused on technical analysis. Friends who have any questions about operations or trends can communicate and learn with me! Let's share and profit together! Remember Hongwei is here 24 hours a day; follow Hongwei and you won't get lost!

【The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Hongwei's real-time strategies.】**

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。