7.8 Afternoon Analysis

The current 4-hour chart shows that Bitcoin continues to operate below the middle Bollinger band, with bearish momentum dominating the market. The middle Bollinger band at 108297 is forming effective resistance. The MACD death cross continues, with clear bearish signals. If it breaks below 107400, the support to watch is around 105200.

Suggestion:

Bitcoin: Look for bearish momentum around 108300-108600, and watch 107500-106800.

Altcoin: Look for bearish momentum around 2545-2570, and watch 2520-2480. #BTC