7.12 Morning Bitcoin Analysis

Yesterday, Bitcoin showed strong momentum, constantly reaching new highs. In the morning, it surged to 117100, faced short-term pressure and retraced, then entered a slow upward trend, with the tug-of-war between bulls and bears resulting in poor continuation of strength and weakness.

Currently, Bitcoin is in a high-level consolidation. Considering the market characteristics over the weekend, it is likely to maintain a volatile adjustment. From a support perspective, the 116000 level has shown stability. Overall, the bullish trend remains unchanged, and given the weekend, it is still recommended to focus on low buying with high selling as a supplement for the future market!

Trading Recommendations

Bitcoin can be bought in the range of 116500 - 117000, with a target of around 119500 - 120000.

Ethereum can be bought in the range of 2920-2890, with a target of 2990-3050.