$BTC 7.9 Afternoon Bitcoin and Ethereum Market Analysis
In the midday, the coin price showed a fluctuating rebound pattern. Bitcoin fell from a high of 109090 to 108080, then stabilized and rebounded to 108887, currently maintaining a range of 108500-108900. This pullback provided us an opportunity to enter long positions, successfully capturing over 500 points of space. Ethereum performed even stronger, falling from a high of 2626 to a low near 2588, then stabilizing and rebounding to a high of 2644, currently fluctuating around 2620. The long position strategy for Ethereum given in the morning successfully gained a profit of 50 points of space.
From a technical perspective, the 1-hour chart shows EMA30 (108600) forming support, MACD has a golden cross but RSI (48) is still in the neutral zone, with key support at 108300/108000 and resistance at 109000/109500. Ethereum's 4-hour ascending channel (2580-2660) remains intact, with trading volume increasing alongside the rebound. Support is at 2610/2588, and resistance is at 2644/2660. The current market shows Ethereum being strong while Bitcoin is weak, focusing on Bitcoin's key support at 108000 and Ethereum's key support at 2600, and be aware of the volatility risk that may arise from the U.S. stock market opening. Strategies may be adjusted according to real-time coin prices.
Bitcoin Recommendation: Stabilize long at 108200-108400, target 109200-109500; or short under pressure at 109200-109500
Ethereum Recommendation: Stabilize long at 2610-2620, target 2640-2660; if blocked at 2650-2660, consider light short positions
