7.7 Afternoon Bitcoin and Ethereum Outlook
The new week continues with high-level fluctuations, and the current Bitcoin has retreated after failing to break through 110,000. From a technical perspective, the weekly chart is flattening, indicating a wide-ranging oscillation trend, while the daily chart shows strong resistance at three peaks with significant selling pressure; the 1-hour Bollinger Bands are flattening, KDJ is turning, and MACD green bars are shrinking, suggesting bullish energy is yet to be released, and a short-term rebound may occur first.
Suggested Actions:
Bitcoin: Stabilize near 108,500 - 108,000, aim for a target of 109,700 first, and if broken, look for 111,000.
Ethereum moves in tandem with Bitcoin, stabilize near 2,550 - 2,530, targeting 2,600 - 2,610.
