July 18th, Friday Zhiming Morning Analysis and Suggestions
From the daily chart analysis, the market closed with a strong bullish candle yesterday, effectively recovering the previous losses and re-establishing itself above the key price level of 120,000, while important support levels have not been breached. The current price is in a rebound cycle, gradually approaching the key resistance zone above, and the overall technical pattern shows signs of warming. In terms of technical indicators, the stochastic indicator and the relative strength index are flattening, while the MACD double lines are forming a golden cross, indicating a bullish trend for the intraday movement.
Observing the hourly chart, the Bollinger Bands show an upward expansion pattern, with prices steadily operating in the upper mid-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 solidly consolidate above the 120,000 level, it is expected to continue the upward momentum; if it loses this support, it may test the support area of 119,000.
Zhiming's operational suggestions:
Buy Bitcoin near 1190-1185, target 1200-1205
Buy Ethereum near 3450-3430, target 3510-3540
