7.21 Evening BTC Market Analysis

In the afternoon, Bitcoin experienced a surge and then a pullback, briefly touching the 1196 level, and then faced pressure, entering a short-term high-level consolidation.

From the hourly Bollinger Bands, the opening is expanding, indicating that short-term volatility is set to increase. In the afternoon, Bitcoin briefly broke through the upper band and then quickly pulled back, indicating strong resistance at the upper band and a weakening bullish momentum.

As for the MACD indicator, it shows a golden cross below the zero line and is moving parallel upwards, with the distance still widening and the energy bars continuing to increase. This means that although the overall market is still in a weak zone, short-term rebound momentum is being released, and market volatility is also rising.

In terms of operations, Bitcoin can be positioned in the range of 119400 - 119800, targeting around 117200 and 116000.