7.9 Wednesday Bitcoin Morning Market Analysis

Reviewing the market from early morning, the price briefly found support at the 108,000 level before a slight rebound, but the rebound strength was weak, consistently under pressure below 109,000, forming a narrow range of fluctuations. Currently, it is consolidating around 108,900.

The current market shows obvious weak characteristics: the continuous shrinkage of volume indicates a lack of bullish strength, the 4-hour moving averages are flattening and exerting pressure, the MACD shows insufficient momentum, and the RSI remains in the weak zone below 50. If the price cannot break through the 109,000-109,500 resistance zone with increased volume, it is expected to test the 108,000 support again. If it breaks down, it may further probe into the 107,500-107,000 range.

Morning Trading Suggestions

Bitcoin: Short near 109,300, target 108,000

Ethereum: Short near 2,630, target 2,580