7.12 Midnight Bitcoin Market Analysis

Good midnight everyone, this week has truly been full of harvests!

Looking back at the evening, Bitcoin has retreated from the high point of 117700 to around 116800, with the overall volatility narrowing, maintaining a range consolidation trend.

From the hourly Bollinger Bands perspective, the channel continues to run horizontally, indicating that the market is in a oscillation balance phase in the short term, with significant constraints from the upper and lower bands. The current price is gradually approaching the lower band, showing that short-term bullish momentum has weakened, and there is a possibility of testing the support at the lower band.

Bitcoin: Watch for a bounce around 116400-115900, target around 118300-129100.

Altcoin: Target around 2980-3000. #ETH突破3000