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$BTC July 21 BTC market update
Looking back, during the day BTC formed a strong range-bound consolidation-to-uptrend structure. In the morning it held at support and steadily lifted its swing lows, with long positions’ capital continuing to pour in. It pushed higher all the way, breaking the intraday high at 669.
After the spike, bullish momentum slowed somewhat; price pulled back slightly and is currently trading around 665.
Based on the hourly Bollinger Bands, price is moving close to the upper band. The Bollinger channel remains steadily widening upward, and the midline at 65840 forms strong support. The overall bullish trend remains intact. However, after a high, a technical pullback and washout should be watched for.
Intraday high and low points keep moving higher, and each pullback is met with capital support; declines do not continue. This is a typical bullish range-up market.
After breaking today’s target at 665, the next question is whether 675 can be broken as well. Watch out for a pullback.