7.4 Friday Morning BTC/ETH Latest Analysis
From the current level, yesterday's trend broke the 110,000 mark again. Currently, a high-frequency selling pressure zone has formed above, and 110,000 has not shown signs of stabilizing. The trend has begun a high-level sideways consolidation, and there are clear signs of pressure at the top. In the short term, there hasn't been a strong push to break through resistance. The larger cycle box has not formed a breakout. Based on left-side trading, one can consider shorting at the 110,000 resistance point; if it breaks 110,500, then consider reversing!
From a four-hour perspective, the Bollinger Bands opened a box structure at 5.23. Each time it touches the 110,000 mark, there is a significant pullback forming a wave pattern. The KDJ indicator has a death cross moving downwards, with strong pressure at the upper band. The 110,000 position has become a long-term short layout point. If it does not break to a new high, then we still expect a pullback before continuing upward!
BTC: 110,800-109,800 short, looking at 108,300-107,800 area
ETH: 2,600-2,620 short, looking at 2,550-2,500 area
