Intraday Analysis on July 23

Yesterday, the major trend decreased as expected, followed by a rebound testing the upper resistance at 120,000. The intraday trend continues to rebound, with the major coin having more than 3,500 points of space. It is approaching the 120,000 level again, with the intraday high at the 120,300 position facing resistance. Recently, the volatility of long and short positions has been significant. If it cannot stabilize around the 120,000 line, there is a possibility of a pullback to the lower support. Although there was a strong rebound intraday, the overall trend remains within a range, so do not blindly chase after increases or sell off. Short-term focus on the stabilization situation around 120,000, and pay attention to the lower level around 118,000. Please adjust flexibly according to market trends.

From a technical perspective, the overall broad oscillation shows that the MACD histogram continues to expand, with the fast and slow lines diverging above the zero line, indicating a bullish trend. The RSI is at 61.32, close to the overbought area but not in the extreme zone, still having further upward momentum, but due to being at a high level, do not blindly chase after increases. Personal suggestion is to be more cautious when trading at high levels. Therefore, maintain a bias towards short positions intraday. (Defense is crucial)

Rebound around the 120,080 to 120,200 line for shorting

Target around 118,880 to 118,840 line

Rebound around the 3,770 to 3,750 line for shorting

Target around the 3,710 to 3,680 line