7.17 Early Morning Market Outlook:

From the 1-hour trend, BTC has repeatedly pulled back to the vicinity of the lower Bollinger Band, but each time it was pulled back up by incoming capital. This suggests that the support underneath is relatively strong. The bears have been trying to push the price lower, but they have never managed to break down into a convincing downside range. Instead, the price keeps reclaiming the middle band time and time again, and the bulls clearly hold the initiative.

As long as the support below doesn’t break, I still expect a rebound in the short term. For execution, there’s no need to rush to chase long positions; waiting to buy after a pullback to lower levels is steadier.

Trading suggestions:
BTC do around 63,800–64,200, target around 66,000.
ETH do in batches around 1,860–1,870, target around 1,940
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