Evening Thoughts on Monday, July 21

From the current 4-hour trend analysis, the market shows obvious characteristics of consolidation and fluctuation. After two consecutive solid bullish candlesticks, there is a strong upward momentum in the market, aggressively attacking from the lower Bollinger Band area, breaking through the middle band and approaching the upper band resistance. However, upon reaching the upper band, the market encountered significant resistance, forming a pressured pullback trend. Subsequently, the market produced another bearish candlestick that pierced through the middle and upper bands; this bearish candlestick has a relatively long body, which retraces part of the previous gains, but the bullish trend remains unchanged. We still maintain a mindset to buy on dips.

Bitcoin: Buy near 117600-118000 with a short-term target of 120500

Ethereum: Buy near 3790-3770 with a short-term target of 3880 #加密立法新纪元