7.29 Bitcoin (BTC) Market Analysis Reference

The Bitcoin trend continued its upward posture yesterday, approaching the 120,000 mark, with prices touching around 119,800, leading to some pressure. Subsequent attempts to test the 120,000 mark again failed to break through, and from the afternoon until the early morning, the market began to pull back. Currently, the price is operating around 118,000, with the upward momentum weakening. The market is consolidating as both bulls and bears enter a period of adjustment, so future operations do not recommend blindly chasing long positions, and caution is advised against potential price pressure leading to further retracement support.

Looking at the short-term hourly chart, the Bollinger Bands are starting to narrow, and bullish sentiment has weakened. The current upward trend is facing pressure, with resistance gradually moving down. Short-term signals indicate a possible pullback, hence it is not recommended to enter long positions blindly at this time; it is advisable to wait for support to be reached before considering entry. Due to the weakening upward momentum during the day, the trend is pulling back and entering consolidation, so we suggest looking for high short and low long positions. Pay attention to resistance near the 199,500 level above, and support near the 116,800 level below.

7.28 Bitcoin Short-term Reference:

Short point above 119,500 to sell, stop loss at 122,500, target below 118,500,

Long point below 117,000, stop loss at 500, defend at 115,000, target above 118,000,

The article is sent with a delay; the strategic suggestions are for reference only. The market changes rapidly, and regardless of how confident one is in market judgment, take profit and stop loss must be managed well to secure gains. #ETH #BTC #BTC走势分析 #美国与欧盟达成关税协议