Bitcoin Weekend Market Review and Current Analysis (July 7, 2025)
Market Review:
From July 5 to July 6 (Saturday and Sunday), due to the weekend effect, Bitcoin's market fluctuated relatively limitedly, maintaining an overall consolidation pattern.
July 5 - July 6 daytime: Prices continued to oscillate within the range of 107,701 to 108,301. It is worth noting that the decline did not effectively break below the recent low of 108,601, indicating that this area provides effective support and is initially building a foundation for a rebound.
July 6 at 18:00: The first round of rebound began, reaching a high of 109,074.
Subsequently, until the early hours of July 7: The price underwent minor consolidation between 109,000 and 108,601.
July 7 at 02:00: A deep correction occurred, with a low probing 108,201. The price tested this position twice without breaking it, then initiated a second rebound.
Second rebound high: Reached 109,685, briefly breaking through the upper Bollinger Band, triggering a technical correction.
Current price level (analysis time): Approximately near 108,801.
Technical Analysis (1-hour candlestick chart):
1. Bollinger Bands: Opening expands upwards (upper band 109.3, lower band 107.579), middle band rises to 108.489. The current price is above the middle band.
2. Moving Average System (MA): The 5-day and 10-day moving averages form short-term resistance near 108,821, and the current price has broken below this area. The MA system shows a bullish arrangement.
3. Indicator Performance:
MACD: *After the second small golden cross appears, the fast line begins to converge (upward momentum has weakened).
RSI: Transitions from a golden cross to a death cross downward, with the current value at 39/64 (the original text's numerical expression is unclear here; conventionally RSI is a single value, inferred to mean the current value is 39, having fallen from 64, indicating a downward oscillation trend).
Conclusion and Strategy:
Short-term Direction: Downward oscillation.
Core Oscillation Range: 108,981 -- 108,401.
Key Resistance Level: 110,001.
Key Support Level: 106,201.
Current Short-term Support: 107,801.
Current Trend Interpretation: After a brief breakthrough of the upper Bollinger Band, Bitcoin has experienced a technical correction, currently testing the 108,401 support area downwards. If this position is effectively broken, downward risks increase, potentially probing further down to 107,801.
Operational Strategy: Consider trying to short at a high near 109,001.
If the price rises, additional shorts can be added near 110,001.
