7.20 Afternoon BTC/Price Action Analysis


The four-hour Bollinger Bands are tightening and trading in a range; the price drops to the lower band and quickly bounces back as support holds. Bullish momentum remains sufficiently strong.
Although the one-hour timeframe temporarily weakens, the long lower wicks indicate strong buying interest below, and the market is set to see a rapid recovery bounce.
After a high followed by a pullback, the shakeout is completed; follow the morning approach by placing orders on dips.
BTC: Pull back to 63,700–64,000 to go long (buy), target 65,000;
Price action (ETH/related): Pull back to 1,830–1,850 to go long (buy), look at 1,930.
Hint:
The analysis above is my (Muyao’s) personal assessment. The market changes rapidly; this content is for reference only and does not constitute any investment advice!
$BTC $ETH
BTC0.66%
ETH0.05%
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