Evening Analysis on July 19

Yesterday, the price rose to 123300 but encountered resistance and retreated, currently fluctuating around 118100, with the bullish momentum temporarily slowing down.

Daily chart perspective: After the previous rebound, the price has not stabilized above the key resistance. During the pullback, the trading volume has moderately increased, indicating that some bulls are taking profits. Currently, it is in an area where moving averages are intertwined. If it cannot quickly recover lost ground, the fluctuation period may extend, and one should be cautious of the risk of moving averages turning downward.

4-hour level: The Bollinger Bands have flattened, with the price repeatedly testing the middle and lower bands. MA7 and MA30 form a short-term bull-bear dividing line. After the MACD indicator formed a dead cross at a high position, the green bars continued, indicating that short-term bearish strength is dominant, but the rate of decline is slowing, suggesting a potential for a rebound from oversold conditions.

It is recommended to buy on a pullback in the 117500 - 118000 range, targeting 120000 - 120500, with a stop loss below 117000, defending 500 points.

It is suggested to sell in the 119500 - 120000 range, targeting 117000 - 116500, with a stop loss above 120500, defending 500 points. $BTC #山寨币突破