Evening Analysis on September 7

Yesterday, the Bitcoin trend showed clear signs of fatigue, exhibiting a distinct weak oscillation structure. Previously, it briefly approached a historical peak but failed to achieve an effective breakthrough and establish a foothold. Especially when it touched the upper trend line several times, it faced strong resistance and retreated, with momentum increasingly appearing to lack follow-through.

From the current overall structure analysis, it is highly likely that it will face upward pressure again. Unless there is a significant increase in trading volume, breaking through the historical peak in one go, it will be difficult to change the downward trend.

Recommendation

Bitcoin is expected to range around 109000 - 109500; if it breaks below 108000, then the target will shift downwards, looking towards the area of 106300 - 105500.

For the second cryptocurrency, it is expected to range around 2630-2650, with a target towards the area of 2550-2520. #BTC