7.24 midday silk deer

On the 4-hour chart, Bitcoin is experiencing a pullback around 120000. During the morning session, it broke through the middle track support, approaching the lower track area. The path of encountering resistance at the upper track—breaking through the middle track—seeking support at the lower track clearly reflects the operational logic in a wide range of fluctuations. Meanwhile, the hourly level shows that although it is running near the upper Bollinger Band, the resistance above is already clear, forming technical pressure. The resonance of the dual time frame charts indicates that the current market is in a balanced state of struggle between buying and selling forces, repeatedly oscillating within the range of 115000-119500, neither breaking through the short-term resistance of 119300-119500 nor effectively breaking through the core support of 116600, while the secondary support is located near 115000.
suggestion
The pancake is fluctuating around 117500-117300, with a target near 119500-119000.
Er Bing: hovering around 3550-3530, target near 3650-3690
#BTC#