Analysis of Bitcoin Aunt on Friday, July 18th in the early morning

Looking back at the night trend, Bitcoin attempted to rally from the 121,000 level but faced resistance and fell back, with the price eventually dropping to around 117,300, and then entering a phase of consolidation.

From the 4-hour Bollinger Bands indicator observation, the upper and lower bands show a clear expansion trend, indicating that market volatility is rapidly increasing. The K-line entity has continuously broken through the lower Bollinger Band, reflecting that the bears currently hold a significant advantage, and selling pressure continues to be released.

Although the bears currently dominate the situation, the 117,200 support area still maintains effective defense, indicating that bulls have a strong willingness to buy around this price level, forming a temporary support.

Operational Suggestions:

🌱 Go long on Bitcoin around 1173-1161, target around 1196

🌱 Go long on Ethereum around 3570-3550, target around 3690.

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