0709 Bitcoin/Ethereum market report 📢📢📣📣

1. The current price of Bitcoin is fluctuating sharply between $107,500 and $109,500, with the intraday price once reaching a high of $109,100. However, it has retreated due to profit-taking pressure from bulls, currently hovering around $108,500. If it can hold above the resistance level of $108,500, it is likely to test the key psychological level of $110,500; conversely, if it falls below the support level of $107,500, it may drop to $106,600 (4-hour chart E-MA 60 support). Bitcoin is maintaining a high-level narrow trading range, and trading still lacks a decisive direction. Currently, there are no catalysts driving the market, and the market needs more solid confidence to push it upwards. Despite facing strong resistance around $109,200, Bitcoin still finds support near $107,500, indicating the confidence of institutional funds.

📕📕Summary: Bitcoin is in a critical breakout phase, and attention should be paid to the strength of the breakout at the resistance level of $108,500 in the short term. Technical indicators show that bullish momentum is gradually recovering, but shrinking trading volume and a neutral but weak RSI suggest a cautious approach. Continuous inflow of institutional funds and favorable policies provide long-term support.

🔑🔑Trading suggestions: 1. Range trading: You can buy low and sell high in the range of 107000-109600 USD, setting take profit and stop loss at 10.78, 10.74, and 10.82. 2. If the price breaks through the resistance of 108500 USD and the trading volume increases to above 35 billion, you can enter a long position with a small amount, with short-term targets: 109500, 110300, and set the stop loss around 108000 USD.

2. Ethereum showed a fluctuating upward trend today, closing at $2610. It has currently broken through the short-term resistance level of $2620, rejecting the fluctuation range of $2523-2628. In the short term, the price has formed a bullish flag pattern on the hourly chart, indicating that bullish momentum is building, increasing the probability of a breakout to the upside, potentially opening an upward channel to $2680. This is due to institutions investing a total of $515 million over the weekend, with trading volume nearly reaching three times the usual amount. However, the current price remains under pressure below the 200-day moving average ($2700), so attention should be paid to this breakout situation to determine the medium-term trend. Key short-term observation: whether the resistance area of $2620-$2650 can be effectively broken. If it stabilizes above this range, the target is $2700; conversely, if it falls back, watch the support level at $2520 and changes in trading volume.

📕📕Summary: Ethereum is currently still in a consolidation upward pattern below the key resistance level of the 200-day moving average at $2700. Mid-term bullish signals are beginning to appear, and technical indicators show a high probability of a short-term breakout; on-chain data and institutional allocations are providing support for the price, and fundamental upgrades are continuously advancing; closely monitor the sustainability of the support at $2620 and the strength of the breakout at the resistance level of $2700.

🔑🔑 Trading Suggestions: 1. For short-term, if it retraces near 2590, consider entering a long position with a target of 2680 and a stop loss set around 2550 USD. 2. For medium-term, near the resistance of 2700 USD, attempt to enter a short position with a target of 2620 and a stop loss around 2750 USD.

Special reminder: This article is for reference only and should not be used as an investment basis!!!