7.2 Wednesday Evening Bitcoin and Ethereum Market Analysis and Trading Suggestions

In the afternoon, the cryptocurrency market showed a fluctuating consolidation trend. Bitcoin entered a consolidation phase after reaching a high of 107,500, while Ethereum also maintained a horizontal consolidation pattern. The bullish market predicted by Xiaoge in the morning has been perfectly realized, and the current strategy has been adjusted to a bearish direction. The current market is lightly traded, with price fluctuations narrowing, waiting for a new breakthrough opportunity.

The 4-hour trend analysis shows that after experiencing a strong rebound of four consecutive bullish candles during the day, the market has broken through from the lower Bollinger Band to above the middle band. Each 4-hour candlestick has maintained a good solid bullish shape, and the closing price has consistently remained above the high point of the previous candlestick. Although the current market rebound seems exciting, it essentially still belongs to the category of technical recovery after deep adjustments. Trading volume has shown a moderate increase but has not yet broken through the volume standard of key resistance levels. Technical indicators have improved somewhat, but MACD is still hovering below the zero line. The upward movement of bulls has slowed down, maintaining a bearish outlook for the evening.

Bitcoin: Short at around 107,800-108,000, with a short-term target of 105,800.

Ethereum: Short at around 2,470, with a short-term target of 2,370.