7/30 BTC Trend Analysis and Trading Suggestions
Support Levels:
First Support: 117500 Short-term multiple pin bars at the bottom position, short positions can take half profit at this level.
Second Support: 115800 Frequently mentioned lower support level, repeatedly touched rebound position.
First Resistance: 120000 (previous high congestion area) must break through with volume to regain the main uptrend, belongs to a new high. Daily level 4 consecutive breakthrough failures.
Second Resistance: Around 120800 (previous initial pin bar high) must break through with volume to regain the main uptrend, belongs to a new high.
Trading Suggestions for BTC:
I suggest maintaining a "sideways slightly bearish" trading rhythm:
Since BTC's position is not much different from yesterday's, the levels are still based on the news sentiment.
Start shorting around 119500, add positions around 120800, wait for news sentiment, take pin bars and wait. In such situations of buying news and selling events, we should not act too hastily, it’s better to miss out than to make a wrong move.
