July 18th Daily Bitcoin Outlook
Yesterday, Bitcoin briefly retraced to around 117,400, but each dip was quickly recovered, indicating that the downward pressure from bears lacks continuity and that support is extremely solid. Currently, it has returned to oscillate above 120,000; although the bullish momentum has slowed, the trend remains.
Ethereum's performance is even stronger, repeatedly testing the 3,500 level, currently aiming to break through the 3,620 barrier, indicating persistent buying pressure. The structure remains bullish, with the daily chart maintaining a bullish arrangement.
Overall, the market is in a stage of oscillating upward under bullish dominance. Although there are short-term fluctuations, the support below is solid, and any retracement remains a good buying opportunity.
Trading Suggestions:
Bitcoin: Buy in the range of 118,500-119,200, target 121,500-123,500
Ethereum: Buy in the range of 3,480-3,550, target 3,580-3,650, breakouts can target 3,700
