7.2 Wednesday Bitcoin Morning Market Analysis

Yesterday, Bitcoin struggled to break through the resistance at 108,500 after multiple attempts, and bullish sentiment began to show signs of weakening. The upward momentum gradually diminished, and during the day, the market opened with fluctuations, breaking down to a low of around 105,400.

From the daily chart perspective, yesterday's price ended with a bearish candle, with both bulls and bears alternating in their efforts. Currently, the overall trend range is being compressed, and the five-day moving average is turning downward, continuously pressured by the trend. If the price cannot break through and stabilize at this level during the day, there is still a possibility for further declines in the market.

Morning Trading Suggestions

Bitcoin: Short around 106,300, with a target of 105,000.