Morning Analysis on September 7
Yesterday, Bitcoin surged near 109,000 twice but faced resistance and fell back, showing that this area has formed a strong resistance level. Currently, the market is in a consolidation phase, with short-term trading being quite tense.
In terms of operations, it is essential to pay close attention to the breakout situation at the 109,100 resistance level: if it continues to fail to effectively hold above this level, it is recommended to short on rallies, leveraging the resistance level to seize opportunities in the range downward, while setting strict stop-losses to cope with unexpected market conditions.
Suggestions
Bitcoin: Short around 109,000-109,500, with targets around 108,200-107,500
Ethereum: Short around 2,615-2,635, with targets around 2,570-2,530
