BTC Analysis on the Morning of July 23:

The weekly chart shows consecutive bullish candles with solid bodies, demonstrating strong momentum; however, after a short-term increase in volume, the price is consolidating at high levels without making new highs or deep corrections, and technical indicators show a divergence, indicating an increasing need for adjustment.

On the four-hour level, two bullish candles engulf one bearish candle, breaking through the upper Bollinger Band, with moving averages appearing strong. However, the J value of the KDJ is overbought, leading to an increased risk of a short-term pullback, with new resistance forming in the 120500-121000 range above.

On the hourly level, the price is approaching the upper Bollinger Band in a step-like ascent, but the bullish momentum has not sustained an increase in volume, suggesting that the upward trend may be nearing its end, with the MACD histogram showing a decrease in volume.

Overall, after a continuous rise, the high-level consolidation requires caution against "increased volume at peak points," and it is advised to avoid chasing prices higher. It is expected to maintain high-level oscillation and washout, with the possibility of a pullback after a peak. In terms of operations, it is recommended to focus on short-selling at high levels, combined with real-time market conditions and technical patterns.

Big Brother's Suggestion: Trade around 120200 with a target of 118200#币圈 $BTC