7.7 Midnight Bitcoin Ethereum Market Analysis!

Do not be influenced by short-term fluctuations, and stay firm in your judgment. When the market is in panic selling, it may be a good time for you to enter; when everyone is blindly chasing the rise, you need to stay clear-headed and be alert to risks. The crypto space is a battlefield for the brave and a stage for the wise. Here, your understanding and decisions determine everything. Continuous learning and improving your cognition are essential to find the right direction in a complex market. Due to the strengthening of the US dollar, while waiting for trade details before the final tariff deadline, Bitcoin fluctuated high and then retreated, approaching the oscillation level of yesterday. Today, after the market opened, it continued to rise, reaching a peak around 109667. After a pullback to around 108600 in the afternoon, it did not show a rebound continuation, and by the evening, it had fallen below 108000, leading to regrettable losses for long positions. Therefore, the breakdown of support still requires a reassessment of strategy for tonight. Although there hasn't been a real breakthrough, currently, the bears seem to have the upper hand!
The chart shows that a 1-hour descending channel has formed, with the MACD showing a death cross after a top divergence. The resistance is at 109000-109500, and the support is at the psychological level of 108000. Ether is under strong pressure at 2600 on the 4-hour chart, with a short-term focus on the breakout situation at 2560. The winning long-short strategy remains effective, but caution is needed regarding weekend liquidity risks to avoid overnight heavy positions. Currently, the market is dominated by bears, and it is recommended to focus on short positions and operate cautiously.
Operation Suggestions
Bitcoin strategy: Short around 108800, target: around 107600.
Second pancake strategy: Short around 2560, target: around 2500.
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