7.16 Wednesday Zhiming Morning Analysis and Suggestions
Reviewing the morning Bitcoin market, based on the hourly chart, the current price ratio is in a gradually rising state. The altcoin is also showing bullish momentum, aiming to break through 3180. There are no signs of this trend stopping, and there is an upward trend, suggesting that it is a good time to enter a long position.
Looking at the chart, Bitcoin is currently in a rebound recovery phase after significant pullbacks. From a technical analysis perspective, the subsequent trend is extremely optimistic, showing strong bullish signals. Additionally, from the trading volume perspective, the volume has significantly increased during the rebound recovery process, indicating that a large amount of capital is flowing into the market, driving prices up. The simultaneous rise in volume and price further confirms the current bullish trend, indicating that market participants are confident in Bitcoin's future performance and are willing to buy actively. Our outlook for the future market is also bullish.
Zhiming's Suggestions
Bitcoin around 117300-106800, look at 1018500-119000
Altcoin around 3110-3090, look at 3150-3170
