7.20 Sunday Morning Analysis:
The midnight Bitcoin volatility is small but the pace is fast, initially oscillating around the 118000 level, quickly retracting to around 117200 in the early morning.
On the four-hour chart, the Bollinger Bands are expanding parallelly, indicating balance, with the market at a critical zone for directional choice. The MACD fast line shows diminishing momentum near the zero axis, suggesting a focus on buying in the early phase.
Bitcoin: 118500-118800 buy, target around 117000
