Evening Analysis on July 19, $BTC
The midday market has limited fluctuations, with the current price around 118200, showing narrow consolidation. Both bulls and bears are temporarily in a state of equilibrium, with neither side gaining a significant advantage.
Observing the hourly chart, the Bollinger Bands show a 'converging parallel' pattern—the distance between the upper, middle, and lower bands is gradually narrowing, and the trend is tending to be parallel. This pattern typically indicates that short-term market volatility will decrease, and there is a high probability that the market will enter a relatively stable consolidation phase.
Trading Strategy:
BTC: Consider placing short positions in the range of 118500-119300, targeting the area of 117500-116800.
ETH: Consider placing short positions in the range of 3580-3620, targeting the area of 3520-3480.