7.23 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference

Bitcoin's price did not break below the support level during several pullbacks yesterday, and the subsequent rebound tested the upper resistance at the 120,000 mark. The intraday trend continues to rebound, and as of the time of writing, the market has seen an increase of nearly 4,000 points, with the current price once again approaching the 120,000 line. The intraday high is under pressure at the 120,300 position, and the price has shown significant volatility in recent bullish and bearish movements. It is hoped that all cryptocurrency friends will do a good job in risk control.

Looking at the short-term 4-hour chart, the Bollinger Bands are in an opening posture, with the price running in the middle and upper band areas. As of the time of writing, the rebound momentum is weakening. If the price cannot stabilize at the 120,000 line, there is a possibility that the market will test the lower support. Although the price has shown a strong rebound, the overall trend is still within the range, so key positions have not been broken. It is not recommended for cryptocurrency friends to blindly chase after rising prices or panic sell. Short-term upper resistance focuses on the stabilization situation around the 120,000 line, while lower support is around 118,000.

7.23 Bitcoin Short-term Reference:

Lower test entry point 119,900 - 121,000, defense 122,500, stop loss: 500 target below 119,000,

Upper test entry point 117,500 - 116,500 long, stop loss 500, defense 114,500, target above 118,500, #BTC #ETH #BTC走势分析 #Strategy增持比特币