July 19 Afternoon Bitcoin Analysis

Yesterday, the market showed a rebound trend, attempting to break through the 120,000 mark but failed to succeed. Subsequently, it encountered resistance and fell back. From the perspective of trading volume, the rebound process showed a clear lack of volume, indicating that the driving force behind the price increase is continuously weakening. The short-term upward momentum has been suppressed, and the overall trend moving forward does not look optimistic.

Based on the above analysis, the intraday trading suggestion is to primarily short on rallies and pay attention to pullbacks.

Bitcoin can be shorted in the 118,500 - 119,000 range

Targeting the 117,000 - 116,000 range