7.16 Wednesday Zhiming Evening Analysis and Suggestions
From the 4-hour chart, the market has shown a slight rebound after testing the support below. It has now regained the 7-day moving average and is testing the middle track of the Bollinger Bands. The Bollinger Bands show signs of narrowing, and the short-term moving averages are also operating near the middle track. Although the MACD fast and slow lines are still pointing downwards, there is a trend of starting to turn upwards. The trading volume is also decreasing, and the KDJ indicator has shown a golden cross, moving upwards. The VR indicator is oscillating around 110, with no significant direction for the time being.
Overall, the market began to retreat after being blocked at a high level. It is now entering a phase of consolidation. In the short term, the market is in a tug-of-war between bulls and bears, with a tendency for fluctuation. Pay close attention to the support levels at the previous lows and the lower track of the Bollinger Bands; on the upside, watch for resistance around the 120000 level.
Zhiming's Suggestions
Bitcoin around 118500-118000, looking at 112500-113000
Ethereum around 3130-3100, looking at 3190-3210
#美国加密周
From the 4-hour chart, the market has shown a slight rebound after testing the support below. It has now regained the 7-day moving average and is testing the middle track of the Bollinger Bands. The Bollinger Bands show signs of narrowing, and the short-term moving averages are also operating near the middle track. Although the MACD fast and slow lines are still pointing downwards, there is a trend of starting to turn upwards. The trading volume is also decreasing, and the KDJ indicator has shown a golden cross, moving upwards. The VR indicator is oscillating around 110, with no significant direction for the time being.
Overall, the market began to retreat after being blocked at a high level. It is now entering a phase of consolidation. In the short term, the market is in a tug-of-war between bulls and bears, with a tendency for fluctuation. Pay close attention to the support levels at the previous lows and the lower track of the Bollinger Bands; on the upside, watch for resistance around the 120000 level.
Zhiming's Suggestions
Bitcoin around 118500-118000, looking at 112500-113000
Ethereum around 3130-3100, looking at 3190-3210
#美国加密周
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BTC
117,530.61
-1.80%
ETH
3,589.83
+4.41%