7.17 Morning Analysis
In the four-hour chart, the middle band of the Bollinger Bands can be seen as a lifeline for a wave of upward movement, currently still above the middle band, showing a bullish trend. From the candlestick pattern, it shows a strong series of bullish candles. Although it is not suitable to guess the peak in a trend, one should still be wary of short-term local pullbacks, as profit-taking may lead to a quick retracement, so this rhythm should be monitored.
In the short term, there may be a continued slow upward test of price levels. After expanding the base of volatility, the tug-of-war interval will also increase. The slow upward phase is prone to shakeouts, so the operation should mainly focus on buying on dips, while also considering short positions after testing high resistance, with the key lying in grasping the critical positions.
Suggestions
Bitcoin: Around 118500-118000 for buying, target around 120000-121500.
Ethereum: Around 3360-3330 for buying. Looking up towards around 3470-3550.
