Evening Strategy for Bitcoin on July 15
The 4-hour chart shows a contraction and consolidation, with yesterday's two attempts to break the upper boundary failing. It has bounced back and stabilized around the middle line, with overall fluctuations still occurring between the middle and upper lines.
Currently, we are at a critical juncture just before the release of the evening CPI data, which is a key point for the bulls and bears to contest. If the data leans dovish or meets expectations, it will help Bitcoin break the current resistance, and the rebound potential is expected to open up. Moreover, this is the moment when bears are most vulnerable to being trapped; sentiment can no longer be suppressed, and the bulls just need to push up!
Trading Suggestions:
Bitcoin: Lay long positions in the range of 116500-116000, with targets aimed at 120000 and 123000; if the data turns bearish and breaks below the middle line, then look down to 114000 before considering an adjustment for entry.
