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6.7 Saturday Midday Bitcoin and Ethereum Market Analysis and Trading Suggestions

This week, the cryptocurrency market has shown an overall trend of rising and then falling, with traders who accurately grasp the rhythm successfully making profits. As previously indicated, a stage top has appeared, and the recent market mainly focuses on pullback corrections. Looking back at the early morning trends, after a range-bound fluctuation, Bitcoin experienced a pullback. In our live trading operations, we successfully captured a space of 1017 points before exiting.

During the midday period, we still maintain a high short and low long trading approach. Aggressive traders can now attempt to short with a light position, while conservative traders should wait to establish short positions at higher levels.

From the current market analysis, Bitcoin is hovering near the middle band of the Bollinger Bands on the four-hour chart, continuously facing pressure, with downside space gradually opening up, and clear signs of bearish dominance. The hourly chart shows that the three bands of the Bollinger Bands are gradually narrowing. As for Ethereum, it still needs to effectively test the key support level of 2200 to confirm the subsequent trend direction. Due to the reduced market liquidity over the weekend, the intraday market is expected to maintain a range-bound fluctuation pattern. Attention should be paid to the dense clearing area near 2430, as this position may trigger sharp price fluctuations.

If the pullback continues, the 2400 support level will become a key defense line for bulls. If it stabilizes here, it may challenge the resistance level of 2530. If the upward momentum is insufficient and unable to break through 2530, the market will likely begin a new round of decline. Once the 2400 support level is effectively broken, it will further open up downside space, targeting the 2200 support level.

Trading Suggestions:

- Bitcoin: Short in the range of 105000-105500, targeting 103000.

- Ethereum: Short in the range of 2500-2530, targeting 2450.

Investment carries risks, and trading should be cautious. The above trading suggestions are for reference only; investors should make decisions based on their own risk tolerance and investment experience.