7.30 Wednesday evening Bitcoin Ethereum market analysis and trading suggestions

In the afternoon market, Bitcoin rebounded from a low of 117673, reaching a high of 118433 before entering a consolidation phase, showing an overall range fluctuation pattern. The performance of Ether is relatively weak, as it faced pressure after reaching the high point of 3830 and fell back, temporarily dipping to a low of 3752 before finding support and stabilizing. Bitcoin maintains range-bound fluctuations, while Ether continues its correction trend, with a long position entered at 117500 and exiting at 118300, securing a space of 800 points.
From the current market trend, during the early trading session, the price once showed a rebound momentum, but after reaching the resistance level of the middle band of the Bollinger Bands, it faced significant selling pressure. This rebound trend shows obvious characteristics of insufficient momentum: the trading volume has not effectively increased, and the fast and slow lines of the MACD indicator are still hovering below the zero axis, indicating that the bullish strength has not formed a sustained counterattack. From the chart observation, after repeatedly testing near the middle band, the price chose to pull back, and in the short term, it may continue to extend bearish momentum, we are bearish in the evening.
Bitcoin: Short positions can be taken near 118000-118500, with a short-term target of 116000.
Ethereum: Short sell near 3770-3800, short-term target 3600