July 17 Daily Bitcoin and Ethereum Analysis
Bitcoin's four-hour structure remains strong, continuing to rise with consecutive bullish candles and breaking through the middle Bollinger band. Although there were upper shadows, the bears failed to exert effective pressure, allowing the bulls to control the rhythm.
The one-hour chart shows a slight pullback, but the Bollinger bands continue to open, and the volume during the pullback is decreasing, indicating a normal consolidation within a strong trend, without changing the upward expectation.
It is worth noting that this round of upward movement is not hasty, but rather progresses slowly. Such 'structural slow increases' are more likely to lead to sustained rallies and also facilitate deep layouts by major funds.
Trading Suggestions:
Bitcoin: Look for a pullback near 118,000-117,500, aiming for 119,500-120,000.
Ethereum: Look for a pullback near 3,300-3,335, aiming for 3,380-3,410.
