7.10 Midnight Bitcoin Auntie Market Analysis

Bitcoin encountered resistance at the 112000 level early this morning, currently oscillating around 111220. The momentum wave is narrowing, and the tug-of-war between bulls and bears is intensifying, with significant pressure above.

The MACD on the hourly chart has formed a death cross, the red bars are shortening, and momentum is weakening; although the daily level remains above the zero axis, the fast and slow lines are tending to converge, indicating signs of weakening. A continuation of the corrective trend is expected in the evening.

Bitcoin can be positioned near 111900-112400

Target looks at 109400-108300

Auntie can be positioned near 2810-2830

Target can be at 2710-2690