7.8 Morning Silk Road
In the early hours, the flight situation settled, and Bitcoin quickly rebounded to 108,000 after retracing to 107,500, then entered a narrow fluctuation range. The current potential is at a critical watershed where both sides are competing, and the situation is particularly tense.
From the 4-hour chart, after the Bitcoin Bollinger Band touched the upper band, it encountered resistance and returned to the lower band, with four consecutive bearish candles breaking the middle band, indicating fatigue in the smaller time frame. The MACD indicator formed a death cross above the zero line and continues to diverge downward, with the energy bars of Bitcoin's momentum constantly expanding, indicating that the momentum is gradually strengthening. It is still recommended to focus on Bitcoin trading today.
Bitcoin's resistance is around 108,500-109,200, looking towards 107,500-106,800
