7.18 Morning Bitcoin Analysis

After completing a pullback near 117450 yesterday, there was a rapid rebound, and bullish sentiment significantly warmed up, with the price successfully reclaiming the 120,000 round number. In the early morning period, the market encountered resistance and consolidated around the 121,000 line. If it can break through this resistance level in the short term, the rebound momentum is expected to continue further.

From a daily chart perspective, yesterday ended with a large bullish candlestick, not only recovering the previous adjustment decline but also the key support area was not effectively broken. The overall trend is leaning towards bullish; the indicators also show positive signals, providing technical support for the rebound. The hourly chart shows the Bollinger Bands opening upwards, with the market exhibiting a fluctuating upward rhythm. Currently, after stabilizing above the 120,000 round number, the short-term upward structure is further solidified.

It is recommended to enter between 118,000—118,500, with a target of 122,000, and a stop loss of 500 points.

The 121,200—121,700 range is under significant pressure, so it may be advisable to lightly short with a target looking down at 119,000, and a stop loss of 500 points. #山寨季何时到来？ $BTC