10.7 Early-Hours Bitcoin and Ethereum Analysis
Today's market action offered little in the way of surprises, with volatility more or less the same as yesterday: a round of short-term gains first, followed by resistance after the rise and a gradual pullback, before consolidating within a narrow range overall in the evening. The market alternated between bulls and bears, providing balanced opportunities in both directions. I did not make many Bitcoin trades today, and including the early-hours session, there were only four orders. Fortunately, we still captured 3000 points of movement. ETH was painful to watch, but in any case, I entered and exited together with Bitcoin.
From the current market structure, the daily trend continues to converge and consolidate, while the Bollinger Bands are gradually narrowing, signaling that short-term market volatility is being compressed further. The market shows a typical pattern of resistance above and support below: upside rebound momentum is limited, highs continue to face pressure and move lower, while support below remains solid. Before an effective breakout occurs, the market will generally continue to fluctuate within a range, with operations still focused on selling high and buying low, and opportunities available in both directions. The four-hour structure is clearer: after testing the upper-band resistance several times, the price pulled back under pressure and is currently fluctuating repeatedly around the middle band. Recent market movements have been highly repetitive, with the middle band forming short-term strong support. Before an effective breakdown, the downside is unlikely to fully open up. However, considering the overall volume structure, short-term bearish momentum has the upper hand, and the market will most likely continue to weakly test lower support later tonight. Therefore, first assess the strength of a pullback, and only consider buying after stabilization. Keep proper risk controls and position flexibly.
Bitcoin: Short around 860, with targets near 849-844.
ETH: Short around 2706, with targets near 2677-2650.$BTC $ETH