Market Analysis for Tuesday Morning, July 22
Bitcoin rebounded after failing to find a bottom in the early morning, currently facing resistance at the pullback level, with clear signals for a short position.
From the 1-hour chart, Bitcoin broke below the lower band and then climbed after opening, encountering resistance before reaching the middle band, with bearish momentum prevailing.
Trading Suggestions:
- Bitcoin: Trade within the range of 118000-118500, targeting down to around 1165, 1150
- Ethereum (ETH): Trade within the range of 3820-3860, targeting down to around 3720, 3650