7.22$ETH Midday Analysis

The short-term 6-period RSI is approaching the 70 overbought threshold (the critical line). Near-term bullish momentum has been seriously consumed, so there is a need for a pullback/repair; the 12- and 24-period RSIs remain steadily in a relatively strong range. In the medium term, the bulls’ base is solid, so current price action mainly focuses on consolidating and repairing indicators.
The rising channel formation is complete, and the lows continue to edge higher. After hitting the 1953.64 peak, it faced pressure and fell back; it printed consecutive consolidation/indecision candlesticks, and the sell pressure above is gradually being released. The chart has not yet formed reversal patterns such as double tops or a head-and-shoulders top, and the bullish trend remains well-grounded. At present, this is a consolidation and shakeout phase during an ongoing uptrend. Around 1920-1860, the target is in the 1950-1990 area#BTC #ETH #BTC走势分析