7.16 Afternoon Thought Analysis

The market rose again during the afternoon, with Bitcoin retracing to the 1170 level encountering resistance and stabilizing, then fluctuating upwards to around the 1180 mark; Ethereum also strengthened, stabilizing and rebounding after a retracement to the 3099 low, reaching a peak of 3158.

Currently, from the four-hour structure observation, the market shows signs of bottoming out and rebounding, overall operating within a fluctuating range. The support levels have all rebounded after multiple tests, indicating strong support. In the absence of clear news stimulation, it is difficult to form an effective breakout in the short term. The Bollinger Bands are flat and consolidating horizontally, and the previous drop has been fully recovered, with the bullish trend still dominating.

Operation Suggestions

Bitcoin: Buy around 118000, target 119500

Ethereum: Buy around 3135, target 3200#CPI数据来袭 #山寨季何时到来？ #比特币巨鲸动向 #美国加密周 #BTC走势分析 $BTC