🏉Market insights for the afternoon of July 19.🏉
$BTC Opinion:
In the past few days, all the positive news has basically landed. Does the landing of positive news mean negative for the market? Let's see if we can take advantage of the positive news landing to create a downward wave, stay tuned.
The major coin has broken through with volume, closing above the 118081 1-hour level. Watch for right-side buying. Stop loss if it breaks.
At 117690, it breaks down with volume but cannot recover on the rebound. Watch for right-side selling, and set a stop loss if it recovers. Pay attention to the change in volume and manage your stop loss.
At 116474, a false breakdown occurs, recover with one more position; if it breaks below 115749, set a stop loss. If it can't recover, do not add more.
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The major coin's hourly level breaks 118166, looking up at 118851-119657. If it cannot stand above 118166, it won't rise.
When shorting the major coin, be cautious of a 2B false breakout at 119657, and short lightly. If it breaks and holds at 120181, set a stop loss.
Conservative players wait: buy at 113770, stop loss if it breaks 112908.
The position indicated by the yellow arrow at the hourly level of the major coin shows why it cannot break upwards after several attempts, as this is a resistance level.
Looking at the left-side arrow indicating the breakout of the resistance level for a continued rise; if it breaks below the resistance level, it begins to fall. A natural rebound still fails to break the upper resistance level, leading to a second downward test.
If the second test shows a lower low and the rebound does not create a higher high, it indicates that it will continue to fall. The yellow trend line in the chart indicates relative safety for bulls as long as it doesn't break. Once it breaks and cannot recover, the second stage of the decline begins. Everyone should pay attention to the resistance level indicated by the yellow arrow in the chart; if it cannot break, the major coin cannot continue to rise.
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Upper pressure: 118395-119657-120509
Lower support: 116951-116360-115736
At the 4-hour level, breaking 117213 looks downward at 116271-115277. If it breaks 117213, the major coin begins its 4-hour level correction. Meeting adjourned.