7.9 Afternoon Bitcoin and Ethereum Outlook
The overall market in the afternoon continues to show a strong oscillating trend. BTC and ETH are still operating in an upward trend in the short term, and pullbacks present opportunities.
From a structural perspective, Bitcoin is consolidating at high levels but has not shown any obvious signs of weakness. The four-hour candlestick chart continues to operate above the mid-line, and the MACD golden cross persists, indicating that the bulls still control the rhythm.
Ethereum is showing a stronger trend, having tested above 2640 in the morning, and is expected to continue to rise in the short term.
The market rhythm for mainstream coins is not rushing to rise but is mainly focused on oscillating consolidation to wash out short-term floating positions while releasing upward space. Therefore, the strategy remains unchanged: buying on dips is still the main line.
Operation Suggestions:
Bitcoin: Buy on pullbacks in the range of 108400-108200, target: around 109300-109700, if it breaks, continue to look towards 110000.
Ethereum: Buy on pullbacks in the range of 2615-2590, target: 2650-2665.
