7.3 Morning Bitcoin Strategy Analysis

In the financial markets, dramatic price fluctuations are a common phenomenon, and what is known as 'pin bar painting' is also a daily routine in trading. However, investors should not let the fluctuations of candlesticks affect their emotions. It is important to remember that it is the market's volatility that facilitates the transfer of wealth. For example, last night, mainstream cryptocurrency prices experienced a significant surge, accompanied by the opening of the U.S. stock market and an unexpected cooling of the non-farm payroll data, leading to a rise in coin prices, with intraday fluctuations reaching over 4600 points; this one-sided trend is indeed exceptionally intense.

This morning, market quotes approached the 109000 level. Although the price successfully broke through this level, a divergence between volume and price has been observed within the 4-hour timeframe, with the RSI indicator reaching an overbought level of 89, and the MACD momentum also showing a weakening, indicating a decline in buying power. The current price is touching the key resistance range of the Fibonacci extension ratio of 1.618 (108800-110200).

In addition, on-chain data analysis reveals that above the price level of 110000, there has been a large influx of BTC into exchanges, while the funding rate in the derivatives market has reached as high as 0.15%, indicating increased pressure for short covering. If the market cannot maintain above the 109500 level, it may pull back to test the support level of 105800 in the short term. If it breaks below, it will confirm a head and shoulders pattern, at which point the target may point to the price range of 102300-101500.

Bitcoin Recommendation: Rebound at 109500-110000 🈳 Target 107000

Ethereum Recommendation: Around 2610 🈳 Target 2450

Finally, I would like to share a saying with all investors: The market is like a chess game, and your mindset determines victory or defeat. May everyone remain clear-headed amidst the ups and downs and reap the wealth that belongs to them. #特朗普马斯克分歧 #Strategy增持比特币 #币安Alpha上新 #美国加征关税 #保护您的资产 $BTC $ETH $XRP