7.14 Morning Market Analysis and Trading Suggestions

From the K-line chart, yesterday Bitcoin hit resistance at 118800 and fell back, reaching a low around 116800, then entered a period of consolidation. Currently, MA7 (117387.70) and MA30 (117620.59) are trending flat, and the price is hovering near these two moving averages, indicating that both bulls and bears are temporarily stuck in a stalemate.

The previous bullish trend accumulated a large amount of profit, and there is a demand for bearish force to be released, while the 120,000 round number serves as a strong psychological pressure point, making it difficult to break through effectively in the short term. However, there is some support in the 116000 - 116500 range, which may provide a buffer if the price continues to decline.

Ethereum is overall in a consolidation state, fluctuating between MA7 (2978.06) and MA30 (2961.73). Although there was a previous peak at 3040.15, it was unable to hold, indicating that selling pressure from above remains significant.

Currently, there is a clear divergence in the market between bulls and bears, and there is a lack of clear trend guidance in the short term. The 2900 - 2920 range is a key support area, and if this range is broken, it could trigger further declines; above, attention should be paid to the resistance in the 2980 - 3000 range, and breaking through this area could open up new upward space.

You can try to short in the 117700 - 118300 range, targeting around 116300 - 116800, with a stop loss set above 118600;

You can set up short positions in the 2950 - 2980 range, targeting around 2870 - 2900, with a stop loss set above 2990

(Above analysis is for personal reference only. Trading involves risks, and caution is required when entering the market.)$ETH #BTC再创新高