BTC Analysis on July 20 Afternoon

Today's BTC price volatility is quite uncertain. Yesterday it dropped from $118,000 to around $116,000, and now it has returned to around $118,000. Based on past patterns, it may continue to adjust within this range throughout the day.

From a technical perspective, the MACD indicator's DIF line is flat, indicating a balance between bulls and bears. The short-term support reference is yesterday's low of $116,000. If selling pressure does not increase, it is expected to limit significant declines; the range of $119,000-$120,000 above serves as recent strong resistance, and it dropped under pressure there yesterday; breaking through this level would open up upward space, otherwise, it may face resistance and fall back.

Trading Suggestions:

Long Position: Consider going long if the price retraces to around $116,500-$117,000, with a stop-loss at $116,000 and a target of $118,000-$118,500-$119,000.

Short Position: Consider going short if the price rises to around $119,000-$119,500, with a stop-loss at $120,000 and a target of $117,500-$118,000#币圈 $BTC