7.12 Early Morning Market Analysis and Trading Suggestions

Looking back at the current market trend, the third day of explosive growth seems unstoppable. The current trend of Bitcoin is gradually rising, suggesting to directly go long at the current price. Tonight, it seems that 120,000 might be hard to resist. The bears need to put in more effort; the 120,000 point is very crucial. The mining field is likely to start dumping, and it depends on how many chips they will throw out. As long as the price stays above 120,000, the dumping pressure will definitely come. Support for Bitcoin can be seen at 115,000; if it breaks below this level, smaller scale trends will start to retrace, with target support between 111,400 and 112,000. As long as it doesn't drop below 114,800 on the hourly level, the bullish outlook can still be maintained.

Bitcoin: Enter long at 116,800, target around 119,000

Ethereum: Enter long around 2,950, target around 3,000 #BTC再创新高