7.9 Early Morning Silk Road
Last night, with a sexy deep V, the US stock market opened and briefly fell to 109164, but the upward momentum was insufficient, failing to stabilize at this position. Subsequently, the market took the opportunity to exert force, quickly falling back to 108050 points, with the short-term rebound momentum encountering significant pressure, and market sentiment once again leaning towards caution.
On the hourly chart, the three lines of the Bollinger Bands are synchronously narrowing, indicating that the recent volatility range continues to shrink, and the market is in a period of rebalancing of strength. The price fell from the upper band to near the middle band, highlighting the upper band's suppressive effect on short-term momentum and reflecting that the middle band has shown initial support effects. The morning operation is advised to focus on the main force.
Bitcoin rebound range near 108800-109500, looking towards 107800-107200, breaking down towards 106000.
Ethereum rebound range near 2590-2630, looking towards 2540-2500, breaking down towards 2360.
