Wednesday, July 23 Evening Analysis and Suggestions
The intraday market quickly surged above 120,000 in the morning, followed by a continuous pullback to around 117,800. Currently, the price has rebounded to around 11.86, and the rebound is still ongoing. In the afternoon, Zhimin timely reminded partners to buy BTC, collecting 600 BTC at 50 USDT.
From a four-hour perspective, the price trend has slightly slowed down after a series of upward candles. The large bearish candle at noon halted the previous upward trend; however, this pullback has not provided much space, with the price retreating to the middle track under pressure and showing a rebound. The four-hour K-line is about to close, and the small bullish K-line indicates that the current bullish momentum is weakening. From the lower shadow, there is also support below. The MACD energy bars continue to decrease, and the divergence between the fast and slow lines has slowed down, but the market is still dominated by bears. Therefore, in the short term, it is advisable to maintain a high position thinking during the rebound.
Zhimin's Suggestions
BTC around 118,900-119,400, looking at 117,500-117,700
USDT around 3,700-3,730, looking at 3,640-3,600
