July 12th, early morning, Bitcoin Auntie's Market Analysis

Looking back at last night's trend, Bitcoin failed to maintain its strength after hitting a new high of around 118,900, instead showing a step-like decline, and has currently retreated to around 117,400, with short-term bullish sentiment being somewhat suppressed.

From the hourly Bollinger Bands perspective, the opening state formed by the previous surge has gradually converged, with the distance between the upper and lower bands continuously narrowing, displaying a clear 'squeeze' characteristic. This pattern typically indicates that the market's volatility may further narrow in the short term, and the battle between bulls and bears is gradually entering a balanced phase, with a high probability that the price will seek new directional guidance near the middle band.

The MACD dual lines have formed a death cross at a high position above the zero line, continuing to diverge downward. This indicates that although the overall market remains within a medium-term bullish trend framework, the short-term bearish momentum has begun to release, increasing the pressure for a pullback.

Therefore, due to significant market fluctuations, it is necessary to avoid holding positions and to set stop-losses.

Bitcoin can look to place long positions in the range of 116,200-116,800, targeting near the 120,000-122,000 range;

Auntie can look to place long positions in the range of 2,900-2,850, targeting near the 3,000-3,050 range. #BTC再创新高