0729 Bitcoin market report 🌈🌈

The price of Bitcoin is showing a volatile pattern amid the convergence of technical factors and the game of macro policy expectations, with market focus generally concentrated on the weekly closing direction and changes in market structure.

Bitcoin has generally maintained a narrow fluctuation in the range of 117,500 to 119,800 USD, with the daily line closing as a small bearish candle with a long lower shadow, indicating that the price has found support in the short term at the 117,000 to 118,000 USD range. The width of the Bollinger Bands has narrowed to the lowest level in 30 days, and A-TR has dropped to 2.3%, reflecting that market volatility is at a cyclical low. For two consecutive weeks, small doji candlesticks with upper and lower shadows have been formed; if the closing price stabilizes above 119,800 USD, a rebound is likely to continue. Conversely, if it falls below 117,000 USD, a bearish pattern may form, triggering technical selling. In the short term, starting from support and resistance, the 117,000 USD and 116,000 USD levels (the lower band of the 4-hour Bollinger Bands) form a double defense line, with buying strength at the support level still remaining. If an unexpected drop occurs, it might test 115,000 USD again; on the upside, the 119,800 USD to 120,200 USD range forms a zone of intense selling pressure, and a breakout requires trading volume to increase to over 50 billion USD. If it stabilizes above 119,800 USD, a short-term target can be set towards around 121,500 USD. However, it is worth noting that institutional investors are taking profits and gradually exiting, with ET-F inflows significantly reduced, making it difficult for Bitcoin prices to effectively break through 120,000 USD.

✅✅Operational suggestions: 1. Range trading: You can adopt a high sell low buy strategy; Bullish: Buy in batches in the range of $117,000-$117,500, target above $119,200, stop loss at $116,000; Bearish: Light short in the range of $119,800-$120,300, target below $117,500, stop loss near $121,500. 2. Breakout: If it stabilizes above $119,800 with significant volume (5 billion USD), you can lightly chase long to the short-term target of $121,500-$121,800; Downward breakout: If it breaks below the support of $117,000, consider lightly testing short on rebounds. 3. Focus on layout opportunities below $115,000.

Special reminder: This article is for readers' reference only and should not be used as an investment basis!!!