7.9 Wednesday Morning BTC/ETH Latest Market Analysis
Yesterday, Bitcoin made two attempts to surge to around 109,000 but encountered resistance and retreated, indicating a strong resistance has formed in that area. Currently, the market is showing a consolidating pattern, with both sides locked in a standoff.
From an operational perspective, it is crucial to pay attention to the breakthrough of the 109,100 resistance level: if the price continues to struggle to effectively stay above this level, a strategy of selling on highs can be adopted, utilizing the resistance to capture short-term opportunities within the consolidation range. If the resistance is subsequently broken and a stable position is established, the strategy should be adjusted in a timely manner.
Operational Suggestions:
Bitcoin: 109,200-108,700, aim for around 108,000
Ethereum: 2,620-2,600, aim for around 2,560
