Recent Market Analysis and Trading Suggestions for BTC

Recent prices have continued to decline, currently finding brief support around 107218, but the rebound strength is weak. Based on technical chart analysis, here is a detailed interpretation:

Market Trend

- Short-term Outlook: Prices may further decline. If breaking below the 107200 support, it may accelerate down towards the 105000 area. Conversely, if a breakout occurs above the 108533 resistance with volume, a brief rebound may be expected.

- K-line Pattern: A bearish engulfing pattern appeared on July 5 at 15:00, confirming the short-term downtrend; the recent black three soldiers pattern suggests a possible continuation of the decline.

- MA Analysis: The short-term MA (7) and mid-term MA (30) are both declining, indicating the market is in a weak consolidation phase, with prices inclined to move downward.

- Trading Volume: Shrinking trading volume reflects an increasing market wait-and-see sentiment; attention should be paid to breakout volumes at key positions to confirm trends.

Key Price Ranges

- Support Level: 107200 (current support; if broken, it may accelerate downward to 105000).

- Resistance Level: 108500-108800 (previous high points, a rebound to this level may encounter selling pressure).

- Potential Target: 105000 (the next support area if 107200 is breached).

Trading Suggestions

- Conservative Strategy: The current market is bearish; it is recommended to wait for prices to rebound near 108500 before attempting to establish short positions at high levels, with a stop loss set above 109000 to strictly control risk.

- Short-term Opportunities: If prices break below 107200 accompanied by increased volume, short positions can be pursued. Closely monitor trading volume and K-line patterns; adjust strategies in a timely manner when bullish signals appear.

$BTC