7.1 Market Analysis:
In the morning session, Bitcoin exhibited a typical washing rhythm of 'rising and falling - low-level fluctuations'. From a technical perspective, the four-hour level has clearly broken below the middle line of the Bollinger Bands, the KDJ death cross continues to widen, and the MACD green bars are expanding, indicating that the bears are accelerating their control; although there is a rebound action at the lower band in the one-hour level, the contraction of the Bollinger Bands resembles more of a 'continuation of the decline' signal, with the KDJ three lines sticking together and pointing downwards, meaning the rebound is merely a breather for the bears to gather strength.
Currently, we need to closely monitor the key resistance zone of 107800-108200, as this area is both a dense area of trapped positions from yesterday's high and also a resistance level at the four-hour middle track. Once the rebound touches this area, it is highly likely to trigger technical selling, so it is advisable to decisively try short positions with light holdings, initially watching for support at the previous low of 106350. It is especially important to note: the current market sentiment is cautious, and if 106350 is lost, it may trigger technical stop-loss selling, leading to a decline exceeding expectations. Always set stop-losses and do not hold positions against the trend.
The market is continuously changing, and we are closely monitoring it to seize new entry opportunities. Like + comment, let’s navigate through the bull market and seize this major opportunity together.
