7.14 Monday Morning Market Analysis
Yesterday, Bitcoin started a fluctuating upward trend from a low of 116900, and in the evening, it strongly broke through the key level of 118000. The bulls continued to exert force, reaching a high of around 119600, successfully achieving the previous low-long strategy target. The current price has entered a phase of oscillation correction around 118600.
On the daily chart, Bitcoin has formed a "four ups and one down" pattern, and then continued to perform strongly. It is currently firmly positioned above the moving average system, indicating abundant bullish momentum, and the medium to long-term upward trend has been reinforced. After multiple tests over the weekend at the 1-hour level, the support at the 117000 line is extremely solid, and the trend shows a characteristic of gradually higher highs and lows, presenting a standard wave-like upward structure.
Operational Suggestions
Bitcoin: Target around 120000 near 1182-1180
