🚨 BTC Analysis 23/07 – Perspective of Future Smart Trader 🚨

BTC is still maintaining a long-term upward structure, the weekly frame is still stable, sitting above the EMA and MA200 – the uptrend has not broken. However, the weekly RSI has started to become overbought, indicating a possibility of a correction or light sideways movement to rebalance the force.

On the 4H chart, BTC is hovering around $118.5K, direction is still unclear. The most recent red candle rejected the breakout of the upper Bollinger band, and the volume is low → indicating that the market might be lightly distributing. The 4H MACD also shows signs of a downward crossover, and the histogram has turned red. The RSI is neutral around 50, lacking strong momentum to push up right now.

⛳️ In the short term, there could be a retest of the $117K – $116.5K area. If this area holds and a reversal signal appears such as a pin bar candle, double bottom pattern… then you can re-enter/long lightly, with tight stop-loss to manage capital. However, if it breaks below $116K strongly, the next strong support area is $112K – $110K.

Currently fully long: it’s advisable to take some profit off 50% - 80% at $118.5K, if it comes back to $117K and holds, then re-enter.

For shorts, it’s not time to short early. Only short when BTC reaches $120K+ and gets a strong rejection, RSI > 75, and a clear reversal candle appears.

BTC is following the rule... rise, rest, then continue. The important thing is to preserve capital and maintain a steady mindset. There are still many opportunities, avoid FOMO or catching the bottom when signals are unclear.

The best trader is the most patient one. You don't need to win every trade – just win the clear ones.

Wishing everyone keeps their form and controls their emotions well! I will update as soon as there’s something new! Tonight, let's take a break. Wishing everyone a peaceful and happy evening with family. 🥰🥰

Anyone who hasn't joined the group, please DM in the comments. 🥰🥰