7.31 Evening Bitcoin Analysis
The technical aspect remains in a fluctuating pattern, and the bullish trend has not been broken; a sideways market is expected to continue in the short term. The main force is fluctuating sideways to distribute, and a rise to 120,000 followed by a pullback is anticipated, so patience is advised. The MACD continues to reduce volume and accumulate, while the downward expansion of DIF and DEA at high levels indicates that bears are beginning to increase their numbers, attempting to disrupt the bullish pattern.
The four-hour level is also contracting, with upper resistance focused at 119,100. The lower support is at 117,000, and the sideways range has basically been determined; those looking to trade intraday swings can refer to these levels.
Bitcoin can be traded in the range of: 118,800 - 119,700, with a target of: 116,800 - 117,800
Ethereum can be traded in the range of: 3,900 - 3,930, with a target of: 3,800 - 3,760
