$BTC 7.7 Monday Early Morning Bitcoin Ethereum Latest Market Analysis and Thoughts

The market is always correct according to the textbook, often it is our judgment that is wrong. Rather than struggling against the market, it is more valuable to recognize mistakes in time and adjust strategies, which is far more valuable than stubbornly holding on. In the evening, Bitcoin experienced a rebound, reaching a peak at the 109099 line, followed by pressure from above, and is currently undergoing another correction. Ethereum mirrored Bitcoin, with an evening peak reaching 2568, showing downward pressure.

From a daily perspective, regarding the MACD indicators, the fast and slow lines formed a death cross above the zero axis, and are currently in a slow downward state, with green momentum bars shortening, indicating that bearish strength is gradually weakening. The KDJ indicator rebounded from the oversold area, with the three lines entangled around 50, indicating that the forces of bulls and bears are temporarily in a balanced state. From a 4-hour level, Bitcoin's price is fluctuating near the middle track of the Bollinger Bands, with the Bollinger Bands opening gradually narrowing, suggesting that the market is about to choose a direction. The key resistance level above is in the 109500 - 110000 area, which is not only the previous high point area but also the upper track resistance of the Bollinger Bands; the support level below is in the 106500 - 107000 area, where the previous low points and the lower track support of the Bollinger Bands are located. Overall technical indicators show that the current market is dominated by bears, with a mid-term downward trend, and although there are signs of weakening bearish momentum in the short term, rebounds are weak and resistance above is evident. For short-term operations, Qianyu suggests focusing on shorting during rebounds.

Monday Early Morning Operation Suggestions:

Short Bitcoin near 109500, targeting 1078000.

Short Ethereum near 2580, targeting below 2480.

For conservative traders, it is recommended to temporarily observe, waiting for the market to clarify its direction before entering operations, while strictly setting stop-losses, managing positions well, and guarding against sudden market risks.