Analysis of the Bitcoin market on the early morning of July 9.

Reviewing the evening market trend, Bitcoin rose to around 109200 but encountered resistance, subsequently falling back to around 108400, and is currently fluctuating around 108700. From an hourly perspective, the three lines of the Bollinger Bands are synchronously narrowing, indicating that the recent market volatility is continuously decreasing, and both bulls and bears are in a phase of rebalancing their strengths. The price has retreated from the upper Bollinger Band and is now near the middle band, which reflects the upper band’s pressure on short-term bulls and shows that the middle band is currently beginning to show support. From the current market situation, Bitcoin is currently in a bearish structural trend. Although there was a significant bullish attempt in the evening, it failed to stabilize and encountered strong resistance above. The small unilateral structure formed during the day has been broken down by a large bearish candle in the evening, and bearish momentum has not shown signs of weakening. In the early morning, pay attention to the resistance level above at 108500; if the 4-hour closing cannot stabilize above this level, then this wave of correction will completely end, and the market is expected to trend upwards, with attention to the positions at 109600 and 110500. If it breaks below 108500, then a 4-hour level correction will commence, with support levels to watch below at 107500 and 105400. In summary, the early morning operation still focuses on steady and high shorts, and be sure to maintain proper defense.

Bitcoin short near 109000-109500, with a target of 107500-106000 and defense at 110000.

Ethereum short near 2620-2650, with a target of 2520 and defense at 2680#币安八周年 .