7.19 BTC Trading Recommendations! Key Support About to be Tested, Short-term Bears Dominate!
From the morning of July 19, BTC is fluctuating near the lower Bollinger Band, with the three Bollinger lines showing a downward divergence structure, indicating a clear dominance of bearish strength, and signs of short-term pressure are increasingly evident.
Key Points for Technical Observation:
Bollinger Band Structure: Three lines opening downward, K-line running close to the lower band, with weak rebounds;
Moving Average System: MA5/MA10/MA20 all showing death cross pressure, unfavorable for bulls in the short term;
Key Support: The area around 117,000 is a critical short-term defense line;
If it effectively breaks down, bears may open up downward space in the range of 115,000~113,000;
If it holds and forms a small bullish line to stop the decline, there may be a possibility of a rebound and repair in the short term.
Trading Recommendations:
Conservative: It is recommended to watch and wait for confirmation of the gain or loss at the key level of 117,000 before deciding on direction;
Aggressive: If 117,000 breaks down, a small position can be taken to short, with a stop-loss above 118,300;
If the strong support at 117,000 holds, the rebound can focus on the resistance band of 118,800~119,200.
The current market is showing weak fluctuations, do not blindly attempt to catch the bottom, controlling your position is key.
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