7.16 Early Morning Silk Road
During the noon period, both sides in the market were trading quite intensely, fluctuating around 116800, as if gathering momentum. By 8:30 PM, as soon as the CPI data was released and the US stock market opened, Bitcoin suddenly surged to 118450. But not long after, the market pulled back sharply to 115600, with rapid changes in trading conditions. In fact, both surges and declines have their reasons; the market dynamics are closely related to news events, and the core message remains: there isn't a market that continuously rises or falls without any fluctuations. During this early morning period, trading should primarily focus on buying the dips for a more stable approach.
For Bitcoin, resistance is around 118000-118800, looking towards 116500-115600; if it breaks, the target is 135000.
For Ethereum, resistance is around 3060-3090, looking towards 3000-2960; if it breaks, the target is 2830.