7.16 Wednesday Silk Road Analysis:
Bitcoin 4-hour chart shows certain weak oscillation characteristics in the market. The Bollinger Bands have returned to a contraction state, with the middle band providing certain pressure and insufficient upward momentum. At the same time, the MACD has shown a death cross signal, continuing the risk of a pullback. However, the overall bearish momentum is relatively weak, and the market is likely to continue operating within the range of 115200-121950.
Operating suggestions:
Bitcoin 116700-117000 buy,
Target 118500-119500,
Defense 116500
Ethereum: 3080-3100 buy,
Target 3210-3310,
Defense 3050
