7.7 Monday Morning Silk Road
Hello family, good Monday. I stayed up all night monitoring for sneak attacks. However, Bitcoin rebounded as expected, rising to 109600, continuing the early morning rally pattern, while Ethereum surged to 2600 before facing resistance and pulling back.
Currently, Bitcoin's daily chart shows a triple top structure, with 110,000 still being the key breakout level. A breakout is expected to push for new highs; otherwise, it may continue to retract within the range. The four-hour chart indicates that after a weekend of sideways movement, the early morning surge faced significant resistance above, and Monday's daytime is still expected to continue pulling back for long positions in Silk Road.
Trading Suggestions:
Bitcoin: Long in the range of 108800-108300, target 110000
Ethereum: Long in the range of 2560-2530, target 2620
