7.7 Midday Analysis

From a weekly perspective, current technical indicators are showing a flattening trend. If there are no major news impacts, it is expected that Bitcoin will continue to maintain a wide range of fluctuations. On the daily level, a 'triple top' pattern has been preliminarily established, encountering strong resistance after a surge in the early hours, clearly indicating heavy selling pressure above.

Technical indicators on the 4-hour level are showing divergence, with the K line in the KDJ about to cross downward, indicating a potential death cross trend; while the MACD has broken the convergence pattern, suggesting a change in market dynamics. Reviewing last night's movement, Bitcoin successfully recovered some ground, with lows showing a stepwise upward movement, and each pullback has not left long lower shadows, reflecting strong buying power. Key focus is on 109600; if it stabilizes, it can rally, otherwise, the downward trend will continue.

Advice

Bitcoin: Range around 109600-110800, watch 108800-107800

Altcoin: Range around 2580-2610, watch 2540-2500 #BTC