$BTC 7.3 Thursday Afternoon Bitcoin Ethereum Market Analysis and Trading Suggestions

The market shows a volatile downward trend. Bitcoin faced resistance and fell back from a high of 109645, displaying a weak oscillating trend, ultimately finding support and stabilizing around 108480. Ethereum also declined, with an intraday low touching the support level of 2555. Our morning bearish strategy was once again validated by the market: we successfully placed a short position at the Bitcoin price level of 109600 and took profits at 108600, perfectly capturing a space of 1000; for Ethereum, we entered a short position at 2608 and exited at 2567, securing a stable profit of 41 points.

From the current 4-hour candlestick chart analysis, after the strong bullish trend formed by six consecutive bullish candles was interrupted, the market began a technical correction as expected. As the market approached the resistance level near 110000, the bullish momentum started to weaken, and the bearish defense strength gradually increased. Observing the trading volume during the correction, it expanded moderately, indicating that some profit-taking positions are exiting in an orderly manner, while the MACD indicator's fast and slow lines show signs of convergence at high levels. It is expected that the market needs to undergo sufficient volatile consolidation at this position in the short term to digest the previous profit-taking chips and reaccumulate momentum, and we still maintain our bearish outlook in the afternoon.

Bitcoin: Short position can be placed near 109400-109700, short-term target 107500

Ethereum: Short position can be placed near 2600-2620, short-term target 2500