7.23 Early Morning Trend Analysis

From the hourly Bollinger Bands perspective, the current three lines show an upward inclination, and there are signs of expansion between the upper and lower bands, which usually indicates a tendency for strengthening short-term trend momentum. The price continues to run close to the upper band area, reflecting that bullish forces currently hold a slight dominance in this game, and the upward momentum still has continuity.

In terms of the MACD indicator, the two lines maintain a parallel upward trend above the zero axis, and the energy bars continue to expand, indicating that bullish momentum is still being effectively released, with relatively strong short-term buying power, and the technical aspect overall presents a bullish pattern. However, the 120,000 level remains a strong resistance level, and if it breaks through but cannot stabilize, it may fall back; in operation, it would be prudent to go short after a brief rise.

Currently, Bitcoin 🉑 is positioned around 118,600-118,000, aiming for a target near 119,600-120,600.