7.1 Morning Thoughts
The evening Bitcoin first pulled back to around 106600, followed by a wave of rebound. However, it encountered resistance around 107700 and has since pulled back, with the current price oscillating around 107000. From a technical perspective, on the four-hour time frame, Bitcoin has lost the support of the middle Bollinger Band and is currently moving towards the lower band; the KDJ indicator's three lines are diverging downwards, and the MACD indicator's bearish momentum continues to amplify. Looking at the one-hour level, Bitcoin rebounded after finding support at the lower Bollinger Band, and the Bollinger Band is beginning to constrict, but the KDJ's three lines are still maintaining a downward trend, further accumulating bearish momentum. In the morning session, one could consider shorting after a rebound.
Bitcoin Trading Strategy: Short near 107550-108050, targeting around 106350.
Second Bitcoin 2520-2550 near 🈳️, targeting around 2450.
