Bitcoin Morning Strategy 7.18

Yesterday, Bitcoin fell to 62,500 and completed a sharp V-shaped reversal. The 15-minute Bollinger Bands narrowed and then expanded upward, with price holding steady above the middle band at 64,060. The price jumped to 64,350 in the morning before retreating on lower volume, indicating only short-term consolidation.

The daily chart shows confirmed lower support. Yesterday’s drop was panic selling, with enough buy support at lower levels. Downward momentum has largely faded, and any pullback is considered a continuation of the uptrend. The lower Bollinger Band at 63,937 is the key support level for today, limiting further downside potential.

Morning trading strategy: Strongly bullish: Consider entering a long position in the zone between 63,500-63,800, with a stop-loss at 63,000 and targets at 64,500-65,000. A breakout above this day’s high level could trigger further gains.

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