E-Star 7.18 Daily Analysis

Recently, Bitcoin rose from 117,400 to 121,000 and then quickly pulled back. It has now stabilized around 120,000, indicating that short-term buying support remains, and the market is in a slightly strong consolidation phase. Trading volume shows significant competition at key levels, and there has been no breakout with increased volume, suggesting that both bulls and bears are still testing.

Trading Suggestions:

If the price retraces to the 119,800-119,500 area without breaking, consider entering a small long position, with a stop loss set below 119,200, targeting 120,800-121,000.

If encountering resistance at 120,800-121,000 with signs of stagnation or a long upper shadow on increased volume, consider a short position, with a stop loss set above 121,200, targeting the support area.

Overall pace is fast; it is suggested to control positions and patiently wait for clear breakout signals.