$BTC 7.7 Monday Afternoon Bitcoin and Ethereum Market Analysis and Trading Suggestions

In a volatile market, true skills are revealed! Don’t let erratic fluctuations disturb your mind; precise strategies are ready to be deployed. When the market tests faith with bumps, we write answers with our positions. This week, let the short positions cut through the fog, with the target being the guiding star——beneath the abyss, there lies gold galore! Morning market review: Bitcoin price faced pressure and retreated after reaching a high, with a minimum dip to around 108622 gaining support, followed by a rebound that touched the 109663 line. Ethereum's trend was similar, stabilizing after testing the low of 2549, peaking at 2589. In the morning analysis, Xiaoge accurately provided the idea of retracement longs, setting up a long strategy at 108800, and taking short-term profits at 109500, easily capturing a space of 700 points.

From the current daily chart technical analysis, the market has recently shown a typical range-bound oscillation pattern, with price fluctuations consistently operating within the channel formed by the middle and upper Bollinger Bands. Recently, the price has tested the upper resistance level three times, but each time resulted in a noticeable retreat, forming three clear resonance areas of high points. This repeated testing without a breakout shows that the current market lacks bullish momentum, with strong selling pressure resistance above. At the same time, the hourly chart shows that the magnitude of the pullbacks after each high is gradually expanding, with the low points of the pullbacks continually descending, indicating that the market may be building a short-term top formation. If subsequent volume cannot effectively expand to support a breakout, it may seek support below.

Bitcoin: Short around 109100-109600 with a short-term target of 107800

This week's swing layout: Looking down to 103000

Ethereum: Short around 2580-2600 with a short-term target of 2520

This week's swing layout: Looking down to 2200