7.22 Analysis: From the early market trend, the strength of the Asian and European sessions after a sharp drop has become a key observation point: if it can test and hold above 118500, there is a high probability of a continued rebound; on the contrary, if there is a persistent lack of upward momentum in the afternoon, the market may weaken throughout the day.
From a daily structure perspective, the upward pressure trend line is significantly constraining, combined with the candlestick's multiple appearances of upper shadows in a "step back" formation, and the lows continuously testing support, the overall downward risk is accumulating, and it could break support and decline at any time.
Bitcoin trading advice: Above 116500-117000, you may attempt a short position relying on support, with a target looking at the 118600-119500 area $BTC