July 19th midday Bitcoin and Ethereum trading suggestions and outlook

From the current market situation, the daily chart shows that the price has fallen below the middle band of the Bollinger Bands, which is a convergence pattern. Moving averages and technical indicators are all leaning towards weakness. On the 4-hour chart, there is a continuous downward trend with two consecutive bearish candles. In the morning, the price dropped from around 95,490 to around 91,800, with a single-sided move of over 3,000 points, indicating strong buying momentum. The middle and lower bands of the Bollinger Bands continue to decline, suggesting that the short-term dominance remains with the buyers. On the 1-hour chart, Bitcoin quickly broke below the lower band in the morning, showing an oversold condition. The KDJ indicator's three values are diverging at low levels, and RSI is in the oversold zone, indicating that the short-term correction may be nearing its end and a technical rebound is possible. The MACD DIF and DEA remain negative, with increasing red histograms, indicating that the selling pressure is still dominant. Therefore, subsequent trading strategies should focus on rebounds:
Bitcoin around 92,500 to 93,000 can be bought, watch at 91,000
Ethereum around 3,200 to 3,230 can be bought, watch at 3,100
#BTC #ETH