7.2 Wednesday, Latest Bitcoin Market Analysis

Looking back at last night and this morning's market, Bitcoin climbed to a high of 106250 in the early hours, but soon plummeted, retreating to a low of 105182. The strategy provided by Yumo in the early morning was also accurately executed!

From the 1-hour K-line trend, the bearish pattern for Bitcoin has already formed. In the Bollinger Bands indicator, the price is running closely along the lower band, with the upper and middle bands continuously declining, and the opening gradually widening, indicating that bearish momentum is continuously accumulating. Looking at the MACD indicator, although the green bars are slowly diminishing, the bearish pattern has not changed; the downward momentum has only slightly weakened but has not completely dissipated. The KDJ indicator's three lines have turned upward at a low position, but the rebound strength after the previous oversold condition is obviously insufficient, making it difficult to shake the current weak situation. In the short term, if Bitcoin cannot successfully break through the resistance of the middle Bollinger Band, it is highly likely to continue the downtrend. It is important to keep an eye on the previous low of 105200; if this support level cannot hold, there may be a larger decline.

You can attempt to short around 106000 for Bitcoin, aiming for a target of 105000; Auntie suggests positioning short orders around 2420-2440, with a target price set at 2355.