According to Deep Tide TechFlow news on July 22, Financefeeds reported that Bitcoin, after setting a historical high of over $123,000 in early July, is currently stabilizing below $118,000. Bitcoin is consolidating within a descending channel, with support at around $115,000 and resistance at $118,000 and $120,000.
Technical indicators such as the Relative Strength Index (RSI) at 41 and the Moving Average Convergence Divergence (MACD) show short-term weakness. However, analysts note the emergence of a cup and handle pattern, which is a bullish formation, with a potential target price of $134,500 if confirmed. A breakout above $120,000 could validate this scenario.
Ethereum's recent high approached $3,848, before retreating to around $3,634. Although it may face consolidation risks in the short term, Ethereum's long-term fundamentals are strengthening.
