Friday Morning Strategy for Bitcoin at 7.18 - Bullish on Bitcoin

From a daily chart analysis, the market closed with a strong bullish candle yesterday, not only effectively recovering previous losses but also re-establishing itself above the key level of 120,000. Moreover, the important support level has not been breached. The current price is in a rebound cycle, gradually approaching the key resistance area above, and the overall technical pattern shows signs of warming up. In terms of technical indicators, the stochastic indicator and relative strength index are flat, while the MACD double lines have formed a golden cross, leading to a comprehensive judgment that the intraday trend is leaning towards bullish.

Observing the hourly chart, the Bollinger Bands are expanding upwards, with the price stabilizing within the upper-middle band range. The short-term trend has regained upward momentum after retracing to the 120,000 support level, maintaining a fluctuating upward pattern. If the market can consolidate above the 120,000 level, it is likely to continue upward momentum; if it loses this support, it may test the support area of 119,000 downwards.

Operational suggestions:

🌱 Light long positions for Bitcoin around 1191-1180, with a target near 1205.

🌱 Light long positions for Ethereum around 3440-3460, with a target near 3560

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