Bitcoin and Ethereum Latest Price Trend Analysis: 11/7

Bitcoin (BTC) Latest Market Trend Analysis (11/7): The market is currently in a bottoming phase, with prices approaching the strong support level of 98888.8 (previous low). Technically, market sentiment is trending towards equilibrium, volatility is low, and the possibility of a rebound is increasing. However, the moving average system remains in a bearish alignment, with prices pressured below the moving averages, indicating a continued weak overall trend. Weakening momentum and the appearance of an engulfing pattern provide some technical support for a short-term rebound, but the upside potential may be limited by strong resistance levels above. The market is currently in a bottoming phase, with prices pressured below the moving averages, indicating a weak trend and limited upside potential. With prices approaching the strong resistance level of 104717.2, combined with the bearish moving average alignment and neutral market sentiment, a sell-on-rallies strategy is recommended to capture short-term pullback opportunities. Xiao Ma's Trading Suggestions: Short Bitcoin (BTC) around 102800-103300, target 101500-105000; Short Bitcoin (BTC) around 3380-3400, target 3300-3260.