Analyst Liang Qiu: 7.19 Bitcoin fluctuates multiple times after a surge, may have peaked in the short term

Bitcoin surged again yesterday but then fell sharply. It dropped from a high of 3674 to 3476, a space of over 200 points, with overall volatility still quite large. Subsequently, the market rebounded again and is currently in a short-term oscillation state. We pointed out multiple times during the day and evening that after the surge, the market also fell as expected, with considerable space remaining.

Currently, after a decline, the market has rebounded again. However, repeated surges at the levels of 119000 and 3620 have seen a pullback, indicating that this position has relatively strong resistance in the short term, while the levels of 116000 and 3480 act as short-term support. If the market breaks below the 3480 level again, it will initiate a new round of decline; however, before breaking the level, one can make short-term high sell and low buy trades.

This weekend, wide fluctuations are expected. For Bitcoin, reference levels are around 118500 to 119000, with a target near 117000, and support around 116000 to 116500.

For Ethereum, reference levels are around 3600 to 3628, with a target near 3520; support is around 3480 to 3500, with a target near 3580. #GENIUS稳定币法案