7.1 Morning Thoughts
In the evening, Bitcoin first pulled back to around 106600, followed by a rebound. However, it encountered resistance and retraced near 107700, with the current price oscillating around 107000. From a technical perspective, in the four-hour cycle, Bitcoin has lost the support of the middle Bollinger Band and is moving towards the lower band; the KDJ indicator's three lines are diverging downwards, and the MACD indicator's bearish momentum continues to expand. Looking at the one-hour level, Bitcoin rebounded after finding support at the lower Bollinger Band, and the Bollinger Band is beginning to narrow, but the KDJ's three lines still maintain a downward trend, with bearish momentum further accumulating. In the morning session, consider shorting after a rebound.
Bitcoin trading strategy: Short around 107550-108050 on the rebound, targeting around 106350.
