7.18 Lunchtime Market Update.


(CRYPTOCURRENCY ANALYSIS)

Due to the weekend holiday, liquidity in the Bitcoin market has shrunk significantly. With a lack of inflows from new capital, the market has entered a low-volume consolidation period. At present, there is no independent trend in the market. Bitcoin’s movements are fully aligned with the movements of the broader market.

Looking back at the short-term market, the previous rebound in U.S. stocks briefly pushed Bitcoin to its highest level, breaking through 640. However, the upward momentum was very weak, and resistance quickly appeared. The upper trendline on the hourly chart forms a clear resistance, preventing any further upward movement.

The market has now entered a weak, sideways consolidation phase. The long-term average movement has not been substantially corrected. All recent upward moves are only technical reversals within a downtrend—not a trend reversal.

Recommendation:

Bitcoin: Sell around 64300-65800
Target: Around 63350-62850

Ethereum: Sell around 1865-1890
Target: Around 1810-1770

$BTC $ETH $AKE
BTC1.49%
ETH0.47%
AKE52.07%
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