$BTC 7.7 Monday early morning Bitcoin Ethereum latest market analysis and thoughts

The market is always correct according to textbooks; it is often our judgment that is wrong. Instead of struggling against the market, it is far more valuable to recognize mistakes and adjust strategies in a timely manner, rather than stubbornly holding on. In the evening, Bitcoin experienced a rebound, reaching a peak of 109099 before facing pressure above, and is currently in a pullback. Ethereum mirrored Bitcoin's movements, with a peak of 2568 in the evening showing downward pressure.

From a daily perspective, regarding the MACD indicator, the fast and slow lines formed a death cross above the zero axis and are currently in a slow downward state, with the green momentum bars shortening, indicating a gradual weakening of bearish strength. After rebounding from the oversold region, the KDJ indicator shows the three lines entangled around 50, indicating a temporary balance of power between bulls and bears. From a 4-hour perspective, Bitcoin's price is oscillating near the middle band of the Bollinger Bands, with the opening of the bands gradually narrowing, suggesting that the market is about to choose a direction. The key resistance level above is in the 109500 - 110000 range, which is not only a previous high point area but also the upper band resistance of the Bollinger Bands; the support level below is in the 106500 - 107000 range, which is where the previous low point and the lower band support of the Bollinger Bands are located. Overall technical indicators show that the current market is dominated by bears, with a downward medium-term trend. Although there are signs of weakening downward momentum in the short term, the rebound is weak and there is clear pressure above. In short-term operations, Qian Yu 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 those who are conservative, it is recommended to wait and see for the market to clarify