$BTC 7.12 Afternoon Bitcoin Ethereum Market Analysis and Trading Suggestions

Market fluctuations are the norm. In the cryptocurrency world, every low point is a preparation for the next higher rise. Maintain faith to traverse through cycles. Looking back at the market, it is currently fluctuating between the 117000-118000 range. Ethereum rebounded after a morning pullback to around 2921, with the highest reaching around 2978. The bullish ideas provided by Xiaoge recently have all provided the expected space.

As analyzed by Xiaoge in the previous text, the market trend this weekend is expected to continue the pattern of high-level fluctuations. This fluctuation is mainly to digest the technical overbought pressure accumulated from the previous rapid rise, and it is also a necessary process for market funds to fully rotate at the current position. From a technical perspective, the current index has remained at a relatively high level for several consecutive days, with all technical indicators showing significant signs of overbought. Although the MACD indicator still maintains a golden cross state, it is beginning to show a converging trend; the J value in the KDJ indicator has been hovering in the overbought zone for several consecutive days, indicating a demand for short-term adjustments. This technical repair is both a reflection of the market's self-adjustment and a necessary process to build momentum for future trends. Overall, while the weekend market may lack the momentum for a unidirectional rise, the probability of a significant market adjustment is low, and one can engage in high selling and low buying within the range.

Bitcoin: Buy near 117300-116800 with a short-term target of 119000.

Ethereum: Buy near 2930-2950 with a short-term target of 3050.