7.1 No Afternoon Thoughts
From the hourly technical indicators, the three lines of the Bollinger Bands are downward, indicating a short-term bearish trend. The Bitcoin is oscillating within a narrow range of 107500 - 106600, with the upper and lower bands of the Bollinger Bands narrowing, leading to reduced market volatility and unclear direction. However, under the dominance of bears, prices are under pressure and may test the lower band for support. The MACD dual lines are parallel and trending downward, positioned below the zero axis. If the green histogram continues without significant shortening, it indicates that bearish momentum is dominant, and the short-term may continue a weak oscillation or downward trend.
Bitcoin Trading Strategy: Rebound around 107250-107750 🈳, looking down towards around 105500.
Ethereum Trading Strategy: Rebound around 2475-2515 🈳, looking down towards around 2415.
From the hourly technical indicators, the three lines of the Bollinger Bands are downward, indicating a short-term bearish trend. The Bitcoin is oscillating within a narrow range of 107500 - 106600, with the upper and lower bands of the Bollinger Bands narrowing, leading to reduced market volatility and unclear direction. However, under the dominance of bears, prices are under pressure and may test the lower band for support. The MACD dual lines are parallel and trending downward, positioned below the zero axis. If the green histogram continues without significant shortening, it indicates that bearish momentum is dominant, and the short-term may continue a weak oscillation or downward trend.
Bitcoin Trading Strategy: Rebound around 107250-107750 🈳, looking down towards around 105500.
Ethereum Trading Strategy: Rebound around 2475-2515 🈳, looking down towards around 2415.
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BTC
105,686.26
-1.47%
ETH
2,415.55
-2.89%