$BTC 7.10 Thursday Evening Bitcoin and Ethereum Market Analysis and Operations

Afternoon Market Review: The price of Bitcoin fell back under pressure from the resistance at 111399, experiencing a pullback and touching the support area at a low of 110800. The price of Ethereum also oscillated downwards from the high of 2822, hitting a low of 2771 during the day. The short position strategy laid out at 2814 was perfectly executed, ultimately taking profit at 2775 USD, successfully capturing a space of 39 points.

From the current hourly level trend, the market is experiencing a typical consolidation period. The overall market during the day presents an alternating K-line pattern of fragmented bearish and bullish candles, with relatively short upper and lower shadows. After the previous upward exploration, the market is now digesting profit pressure through a technical adjustment. This type of consolidation trend usually indicates that the main funds are exchanging chips at key price levels in preparation for a subsequent breakout. There will be news at nine o'clock in the evening and two thirty in the morning. We will continue to observe the trend first and then follow it.

Bitcoin: Sell near 111000-111500, short-term target 109000

Ethereum: Sell near 2790-2810, short-term target 2700