7.29 Bitcoin Strategy Analysis

Technical analysis shows that on the 4-hour time frame, the MACD indicator exhibits a significant bearish divergence pattern, with its fast and slow lines not following the previous bullish rebound trend, but rather continuing to decline, indicating a substantial strengthening of bearish forces and a shift in market control to the bears.

The hourly chart further validates this bearish control pattern, where the bearish trend is more evident, characterized by a continuous downward trend and strengthening bearish momentum. Additionally, the price fluctuations are close to the lower Bollinger Band, which leads to a sustained downward adjustment of the overall market, further confirming the market's bearish dominance. Short-term and medium-short-term indicators both show a bearish advantage.

BTC recommendation: around 118500 🈳 Target 116000

ETH Recommendation: Around 3780🈳 Target 3680

Need to follow the trend and stay rational at all times, defend well, and never blindly resist! Wish everything goes smoothly, seize every wave of navigation, we have always been moving forward side by side! #Gate Launchpad IKA上线# #以太坊重返3800# #USD1理财年化达24%# #BTC# #ETH#