Analyst Liang Qiu: 7.24 Bitcoin/Ethereum Midnight Market Analysis

Bitcoin has retreated somewhat after surging to 120,000 last night, but it continues to oscillate at high levels. However, Ethereum has started to decline and, after breaking below 3,650, has reached a low of around 3,580. The overall trend has shifted from strong to weak, and the previous range of 3,620 to 3,750 has been broken. The market will enter the next range of around 3,480 to 3,640. During the day, we established positions on the pullback, and Bitcoin also rose to 118,700 and then retreated around 3,680, with the bullish trend not being very evident. Additionally, Bitcoin has repeatedly spiked but has not stabilized above 119,000, and after several high spikes, it may continue to test the support at 116,000.

From an eight-hour perspective, the market has broken the mid-band of the Bollinger Bands but has not effectively stabilized and rebounded, showing some continuation downward. On the daily level, currently, Bitcoin and Ethereum have broken the 7-day and 10-day moving average indicators at 118,500 and 3,650 without effective rebounds. It is expected to spike again before continuing to retreat and test the lower boundary of the range. The trend change requires a flexible response.

For operations in the early morning, it is recommended to short Bitcoin around 118,000 to 118,500, targeting around 116,000; for Ethereum, short around 3,610 to 3,640, targeting around 3,540.

【The above analysis and strategies are for reference only. Please bear the risk yourself. The article review and publication may lack timeliness, and specifics should be based on real-time data】 #RWA热潮