$BTC 7.7 Monday Evening Bitcoin Ethereum Market Analysis and Operations
Sharpen your blade, strengthen your beliefs, and firmly hold your bottom line. On the battlefield of contract trading, every well-considered strike may compose an exciting chapter of wealth! The afternoon market shows a volatile adjustment trend, with Bitcoin facing resistance and retreating after rebounding to the 109041 mark, maintaining a narrow fluctuation pattern overall. Ethereum once climbed to a high of 2587, but the subsequent momentum was insufficient, currently showing a continuous downward trend, with Xiaoge looking bearish again in the afternoon.
From the 4-hour level, the coin price encountered significant resistance after touching the upper Bollinger Band. Although there was a brief breakout during the session, the trading volume failed to expand effectively, indicating insufficient market enthusiasm for chasing highs. The price then quickly retreated, with two consecutive long bearish candlesticks forming a reversal pattern. The first bearish candlestick completely engulfed the gains of the previous bullish candlestick, while the second bearish candlestick further tested the middle band, continuing to look bearish in the evening.
Bitcoin: Short at around 108700-109200 with a short-term target of 107000
Ethereum: Short at around 2570 with a short-term target of 2500
