7.8 Bitcoin continues to oscillate at high levels, direction will soon be revealed!
On the daily chart, last week's market showed repeated fluctuations with a bearish evening star, bullish engulfing, and ultimately concluded with a morning star, maintaining a technical bullish outlook. The short-term key lies at the 2640-2650 resistance; if effectively broken, the next bullish target will be 2800-2900. The 4-hour technical trend remains firmly bullish; prices are above the three moving averages with effective support from the bullish trend line. Those who entered long positions around 2500 based on last week's low bullish view are already in profit; the suggested stop loss is at 2450-2430, with the first target looking up to a strong breakthrough of 2650 resistance, after which it can continue to look towards 2750-2800. The strategy suggests to continue to be effective with patience for profit-taking targets; all major cycles show bullish signals with low bullish positions as the main focus.
ETH technical trend outlook: Last week, the market saw a bullish expectation on the weekly level, ultimately rising throughout the week, closing with a small bullish candlestick, up 2.8% for the week, consistent with the bullish view for the week. The weekly level continues to maintain a bullish outlook.
Operational suggestions:
Bitcoin long at 107300-107800, target near 111000-113500. Stop loss at 106800.
Ethereum long at 2490-2530, target near 2700-2850. Stop loss at 2440.
