Midnight Thoughts on July 19th

From the current market perspective, although Bitcoin has been highly volatile during the day, the overall trend still remains within the range we previously identified. The current daily candle has formed an inverted hammer bearish candle, with its body having engulfed most of the gains from the previous two days, indicating that there is still significant selling pressure above, which basically confirms our earlier judgment.

On the four-hour level, the market quickly shifted from a 'four consecutive bullish candles' to 'four consecutive bearish candles', with prices falling back to the position where it started at midnight yesterday. The market pattern seems to have drawn a 'narrow gate' at this position, which precisely frames the identified range we discussed earlier, further validating our previous range judgment. As the price has retreated, the trading volume has simultaneously increased, making it very clear that the main players are washing out and clearing floating positions at this location.

Looking at the hourly chart, the three lines of the Bollinger Bands have opened downward, with the market attached to the lower band continuously producing 'five consecutive bearish candles', indicating that there is still strong short-term pullback pressure. However, considering that the weekend is approaching, overall market trading sentiment is relatively weak. We recommend focusing primarily on short-term strategies, paying close attention to whether there will be a 'quick spike' or a stabilizing support signal near the bottom of the range around 117,000.

Personal Suggestions

Bitcoin: Enter at 117,800-118,500, target below at 116,500, if it breaks, look at 114,000$BTC

Altcoin: Enter at 3,580-3,600, target below at 3,500, if it breaks, look at 3,420$ETH