7.18 Early Morning Market Analysis
Last night, after Bitcoin broke 120,000, it couldn't hold and fell back to around 117,400. It has been oscillating within this range recently. However, the bearish momentum is not strong; every time it drops, it can bounce back, indicating that the overall trend is still bullish.
From the 4-hour chart, the price is hovering near the middle band, the Bollinger Bands are narrowing and consolidating, KDJ has a golden cross pointing upwards, and MACD also shows bullish signals. The upper resistance is at 120,000. If it can break through, it will continue to rise. In terms of trading, it is recommended to focus on buying on dips.
Strategy: Buy on the rebound to 117,500-118,000, target 120,000-121,000
