7.21 BTC Evening Market Thoughts

The price is around 118124.8, the consolidation pattern continues, and the battle between bulls and bears is yet to break.

The price rebounded from a low of 115750.1, with MA7 and MA30 showing a flattening trend; the mid-term direction is yet to be clarified; the previous high point of 120951.5 presents significant resistance, and a breakthrough needs to be confirmed with increased volume.

The Bollinger Bands are narrowing, the price is oscillating around the middle band, MA7 and MA30 are converging, and the MACD momentum is weak; both bullish and bearish forces are balanced, looking down to the lower Bollinger Band support at 117040.5, and targeting the upper band resistance at 119348.6.

Recommendation: Enter around 117500 - 117800 lightly, target 118500 - 119000, with a stop loss below 117200.

Recommendation: Enter around 118500 - 118800, target 117800 - 117500, with a stop loss above 119000.

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