Old Seven 7.19 Market Analysis
Yesterday's precise prediction of the pullback allowed many brothers to successfully place long orders at key low points based on the hints. The price of Bitcoin spiked near 116700 before starting to rebound, showing signs of a potential bottom. The subsequent trend will depend on the strength of the rebound and the situation regarding the resistance above.
Today, Bitcoin needs to pay attention to the key position of 118653. If it can steadily hold above this level on the 4-hour chart, the rebound momentum will be strong, and it may continue to rise. The resistance levels above are 119523, 120830, and around 122030; $BTC
On the contrary, if this position is broken, the rebound will lack strength, and it may further test support levels at 116790, 115660, and 114730.
The position at Ethereum 3579 is crucial. If it can hold above this level on the 1-2 hour chart, it will signal the end of the pullback and attempt to challenge resistance levels at 3606, 3631, and 3674; $ETH
If it breaks below, a pullback will begin on the 1-2 hour chart, with support levels to watch below at 3530, 3477, and around 3420.
The cryptocurrency market is full of instability; personal analysis for reference only.
Make wise decisions and operate cautiously.
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