$BTC
Recent Market Analysis and Trading Suggestions for BTC:
The price has been continuously declining recently, currently finding temporary support around 107218, but the rebound is weak. Based on the technical chart, the following interpretations are provided:
Market Trend
Short-term Outlook: The price may further test lower levels; if it loses the support at 107200, it may accelerate towards 105000. Conversely, if it breaks the resistance at 108533, there may be a brief rebound.
Candlestick Pattern: A bearish engulfing pattern was observed on July 5 at 15:00, indicating a short-term bearish advantage; the black three soldiers pattern suggests a potential continuation of the downtrend.
MA Analysis: The short-term MA (7) and medium-term MA (30) are both declining, indicating a weak market consolidation with a downward price tendency.
Trading Volume: The volume is shrinking, and market sentiment is cautious; key levels need to be monitored for volume signals to confirm direction.
Key Price Range
Support Level: 107200 (currently crucial; if broken, it may head straight for 105000).
Resistance Level: 108500-108800 (previous highs, rebound may face selling pressure).
Potential Target: 105000 (the next support if 107200 is broken).
Trading Suggestions
Conservative Strategy: The market is bearish; it is recommended to wait for a rebound to 108500 to set short positions, with a stop loss at 109000, strictly controlling risk.
Short-term Opportunity: If it breaks below 107200 with increased volume, short positions can be pursued. Pay attention to candlestick patterns and volume; adjust promptly if bullish signals appear.
