7.17 crypto world Coin Mr.: Bitcoin (BTC) market analysis reference

Bitcoin continued its upward trend yesterday, with a price increase of nearly 3000 points, reaching around 120,000 at its peak. The overall market is continuing to warm up. Today's market opened with a sharp rise, breaking through yesterday's resistance and experiencing a slight upward pull. Currently, the price is operating in the area just below 120,000, and bullish sentiment is continuously increasing, with the possibility of further upward movement during the day.
From the daily chart perspective, the market is continuously testing upward, and the situation has improved as bulls reclaim lost ground. Currently, the price is also running above the five-day and ten-day moving averages. Although the intraday increase is not considered strong, the upward trend is quite evident. Moving forward, it is crucial to pay attention to the stability around the 120,000 mark. If the market can stabilize, the price is expected to continue its upward trajectory.
On the 4-hour chart of the short cycle, the Bollinger Bands are opening upwards, and the trend is biased towards the upside, with all moving averages maintaining a bullish posture. The market has entered a range-bound upward rhythm, and the current trend has not broken down again. Therefore, it is not recommended to blindly chase the rise; be cautious of the market being pressured back down to the support below. For a more stable approach, consider buying on pullbacks, with short-term support levels to watch at 117500-11800.
7.17 Bitcoin short-term reference:
Lower test position 123,000 - 122,000, defend at 125,000 to add, stop loss: 500 target below 12,1500,
Long test position at 11700000-11800000, stop loss 500, defend 115000 to add, target above 119500,
7.17 crypto world Mr. Coin: Ethereum (ETH) market analysis reference
Ethereum continues to rise during the day, breaking through multiple resistances with prices moving upward again. The bullish sentiment remains strong, and short-term signals have indicated an upward trend. The upper band of the Bollinger Bands has also been opened, and prices are expected to test further upwards. If the market stabilizes subsequently, prices may likely break through with a flare. Support is found in the 3240-3270 range; as long as this range is not broken, the short-term upward trend will remain unchanged. Currently, the overall trend leans towards upward, and the pullback is not strong. In the short term, attention can be given to the 3240 line, and if there is an opportunity, one can consider entering long positions.
7.17 Ethereum short-term reference:
Test the position between 3200-3255, stop loss 30 points, target above 3340,
There is a delay in sending the article, and the strategy suggestions are for reference only. The market changes rapidly, and no matter how confident you are in your market judgment, you must always set your take-profit and stop-loss levels to secure your gains.