July 20

BTC midday

The four-hour Bollinger Bands have been continuing to tighten, with the overall daily trading volume clearly shrinking—this is a typical power-accumulation pattern. The price has been moving back and forth within the range box all the time; there is no single-direction trend in the short term. This kind of market is prone to having wicks that pierce both up and down. The line separating long and short positions is around 64,000. If it holds above, it is biased toward a rebound; if it breaks below, it will likely retest the low again.

Strategy: Pullback to 63,800-64,000, defense at 63,300, targets 65,000-65,500
Disclaimer: Investing involves risk; enter the market cautiously
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