7.5 Early Morning Bitcoin Market Analysis

From the technical perspective of the Bitcoin daily chart, the Bollinger Bands price touched the upper band and then retreated, showing a trend of approaching the middle band. If it breaks below the middle band, there are concerns about support at the lower band; the MACD bullish bar is shortening, and momentum is weakening, presenting a risk of forming a death cross and turning into a bearish arrangement; KDJ has already shown a death cross, with the J line turning down and the K and D lines weakening, indicating that short-term upward momentum is exhausted and adjustment pressure is high.

Currently, it appears that the Bitcoin rhythm is slowing down, but there is still space below. A rebound near 108,000 can be shorted, with a target around 106,500.

Those considering going long can do so near $BTC 106500, with a target around 107800-108500.