7.21 Morning Analysis of Bitcoin:
The consolidation range is the market's reflection period, where both bulls and bears have their considerations. The support level has become the bottom line for the bulls, while the resistance level is the defense line for the bears. The longer the fluctuation lasts, the stronger the subsequent directional choice may be.
The four-hour candlestick chart is quietly sketching the bottom outline, and the inertia of the decline is weakening. If subsequent bullish candles continue and key levels hold, then this bottom formation is not a false move, but rather the beginning of the bulls gathering strength.
Trading Suggestion: Buy around 116500, look for a breakout above 119500 to continue upwards.
