July 3rd Midday Analysis

After six consecutive bullish candles on the four-hour chart yesterday, the trend has ended, and the price surged to around 109600, with strong short liquidation pressure causing a pullback. From a technical perspective, the price is operating below the upper Bollinger Band, with significant resistance at the 110,000 level. The MACD bullish momentum is waning, and there is insufficient upward momentum in the short term, making the risk of chasing long positions at high levels extremely high.

Bitcoin: A short position can be taken around 109500 - 110000, with a target at 108000. If this support is effectively broken, the price could further decline to 105000.

Ethereum: A short position can be taken near 2600. The initial target is set at 2520, and if the price breaks below this level, it could extend down to 2480$BTC $ETH .