7.28 Monday lunchtime Bitcoin ETH analysis

The midday market continues to show a weak oscillation pattern, with a narrowing fluctuation range but the downward trend remains unchanged.
Bitcoin's weekend rebound failed to sustain, hitting resistance and falling back after reaching 119500, with significant pressure at the 120000 level, making it difficult to effectively break through in the short term. The 4-hour chart shows the MACD indicator in a death cross state, with bearish momentum still being released, overall in a downward channel. The hourly chart indicates intense competition between bulls and bears, and it is expected to fluctuate narrowly in the 118000-119500 range in the short term.

On the Ethereum side, the price fell from 3860 to 3810 in the afternoon before slightly rebounding, currently fluctuating around 3870, with significant pressure at the 3880 level. From a 4-hour perspective, the Bollinger Bands are opening downward, with the price operating below the middle band, indicating a dominant bearish trend. Although there was a slight rebound in the morning session, the trading volume was insufficient to reverse the weak pattern. The hourly chart shows narrowing fluctuations, and it is expected to consolidate in the 3800-3870 range.

Operation Suggestions:
Short near 119500-120000 for Bitcoin, target around 117500.
Short near ETH 3875-3880, target around 3720.