Coinbase(US:COIN) 提阿非羅大人TiaBTC·2025-08-01 18:48Market Analysis - Bitcoin's daily chart suggests a potential downward trend, with a possible break of previous lows [1] - A key multi-party critical point is identified, with the analyst considering shorting Bitcoin futures to hedge spot holdings if it breaks down [1] - The analysis highlights the importance of watching for a strong rebound with high volume, similar to previous patterns, to confirm continued upward momentum [1] - Ethereum is facing resistance around $4,000, influenced by Bitcoin's movements and broader market trends [2] Technical Indicators and Patterns - The analysis points out a potential MACD bearish divergence on the weekly chart, which could indicate a larger correction if key levels are breached [1] - The report emphasizes the significance of unfilled gaps in Bitcoin futures, noting that these gaps often get filled before further price movements [1] - The analyst suggests that if Bitcoin price rebounds and closes above the broken parallel bottom and fills the gap, it will be a strong signal [1] External Factors - Coinbase's disappointing earnings, with an 8% after-hours drop and a further 16% decline, contributed to the overall market downturn [2] - Concerns about excessive optimism and potential bubbles in AI-related industries also contributed to the broader market sell-off [2] Trading Strategy - The analyst is considering shorting Bitcoin futures to hedge spot holdings, but will not sell spot Bitcoin [1] - The analyst suggests waiting for smaller-scale bullish signals in Bitcoin, such as a new high and a strong bullish candle, before considering long positions [2]