7.4 Afternoon Insights and Trading Suggestions

BTC

Bitcoin had a second surge around 110000 during the night and has started to oscillate downwards. I mentioned in the nighttime analysis that you could continue to take risks around the 110000 resistance area. If you are going long, make sure to set stop-loss at the previous high. Currently, the four-hour level has just broken, and we will see if the four-hour close at 4 PM or 8 PM can stay above 109300. If it cannot close above, this upward momentum may weaken, with a downside target support of 108500. I suggest trying small positions in the range of 107500-6500. If the four-hour close rises above 109300 again, it means that the upward strength is still present, with the potential for a second surge. The upper target resistance continues to be 110400 and 111800. If the second surge happens, it can still be attempted with small positions while managing the position size.

ETH

Ethereum is currently also oscillating in a small range. The support remains at 2590. If the four-hour close cannot stay above 2590, the upward strength will weaken, and we need to pay attention to the bottom support of the sideways area at 2555. If it breaks, watch around 2480. A cautious approach suggests paying attention to this support area, and if the four-hour close rises above 2590 again, you can exit your current position. Continue to monitor the upper resistance in the range of 2630-2670, while managing the position size.