7.23 Bitcoin Aunt's Evening Thoughts
From the hourly Bollinger Bands perspective, there is currently a clear downward opening structure: the upper band continues to press down, and the price is running close to the lower band, constantly pushing the lower band downwards. This indicates that short-term bears are dominant, the trend is weak, and the downward trend continues strongly.
On the four-hour level, there has been a consecutive decline; although there is some support near the middle band, the signs of increased volume have not diminished, and breaking below is just a matter of time. The weakness on the hourly chart is more intuitive, with consecutive downward movements mixed with sporadic small upward moves, indicating adequate emotional release and smooth retracement rhythm. Overall, the bears are still in control, and the evening thoughts remain predominantly bearish.
Personal Suggestions
Bitcoin: Enter at 118800-119600, target downwards to 117000-116000, if it breaks below, watch for 114000$BTC .
Aunt: Enter at 3715-3750, target downwards to 3650-3600$ETH .
