7.10 Big Cake Aunt Afternoon Thoughts
BTC strongly breaks through new highs, the triangle consolidation pattern chooses to break upward, obviously stimulated by news from the early morning, directly pushing the price to create a new stage high. In the afternoon, the price maintains a fluctuation within the range of 110800-111200.
At present, it can be seen that the daily level has successfully broken through the key trend line and stabilized, the technical structure is obviously elevated, and there is a possibility of continuation in the trend. However, the differentiation in the market is also very evident and needs attention:
Although the daily line closed with a bullish candle, the upper shadow is very long, indicating significant pressure above, and there are already signs of a weakening short-term trend.
The 4-hour chart has continuously closed with bearish candles, indicating signs of a pullback in the short-cycle trend, and bearish momentum is accumulating.
Although the MACD is still above the zero axis, the momentum bars are clearly slowing down, meaning that the upward momentum is weakening, and the trend change is slow, leaning towards neutral.
The 1-hour level has also continuously closed with bearish candles, and the price is maintaining within a fluctuation range, attempting to build a bottom, but no significant signs of strengthening have yet been observed.
Overall, in the short term, bullish momentum is weakening, and the signs of pressure above are clear. Caution is needed in operations to avoid chasing highs.
Personal Suggestions
Big Cake: Enter in the range of 111200-111700, target down to 110000, if broken look at 108500$BTC
Aunt: Enter in the range of 2800-2830, target down to 2730, if broken look at 2600$ETH