7.1 Morning Analysis

From the hourly Bollinger Bands perspective, the bands are showing a converging state, with the distance between the middle band and the lower band narrowing, indicating a significant decrease in short-term market volatility. The price is operating between the middle band and the lower band, and it is currently gradually approaching the lower band. This converging pattern usually indicates that the market is in a consolidation phase before making a directional choice. If the price continues to be suppressed below the middle band, one should be cautious of a potential breakdown of the lower band support leading to further declines.
The MACD double lines continue to run below the zero axis↓, presenting a parallel downward divergence pattern, indicating that the momentum is dominated by the bears in the short term, with market momentum leaning towards weakness. The parallel trend below the zero axis↓ means that the bullish trend has not yet shown clear exhaustion. If the double lines do not form a golden cross or↑ break through the zero axis in the future, the short-term bearish pattern may continue.
Bitcoin: fluctuating around 107800-108500
Target: around 106500-10600
Two pancakes: around 2520-2550, the market is volatile.
Target: around 2460-2430

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