Crypto Wave Riding: July 20 Bitcoin (BTC) Market Analysis Reference:
The current price of Bitcoin is 64200, maintaining a range oscillation pattern at the daily level, with the price testing the support of the middle band of the Bollinger Bands. In terms of indicators, the MACD double line's upward rhythm has slowed, and the bullish momentum continues to shrink; the KDJ has formed a dead cross at a high position and is running downward, while the RSI is simultaneously pressured to fall, with upward momentum gradually fading. Currently, the bulls lack sustained upward force, and the short-term risk of a pullback is increasing. The dividing line of market strength and weakness is at the middle band of the Bollinger Bands. Once this support is effectively broken, it will open up further downward adjustment space, with the upper oscillation range high forming strong resistance in the medium to long term.
At the short cycle of the 4-hour level, after the price rose to the 65000 mark, a large bearish candle broke through the middle band of the Bollinger Bands, shifting the short-term trend from oscillation to a weak pattern. The MACD double line shows signs of forming a dead cross, with bearish green bars starting to appear, the KDJ indicator quickly moves down into a weak area, and the RSI continues to decline without showing obvious oversold signals. The short-term bearish force is being released, and the market is likely to continue in a downward oscillating trend; the originally supportive middle band of the Bollinger Bands has turned into a resistance level. If any subsequent rebound cannot stabilize above this position, the adjustment in the market will continue. Pay close attention to the support role of the lower band of the Bollinger Bands at 63000, and it is advisable to sell high and buy low, strictly controlling the risk.
Crypto Wave Riding: July 20 Bitcoin Short-term Reference:
Long Position: Buy in the range of 62500-63200, stop-loss 500 points, target looking at 64000-65000,
Short Position: Sell in the range of 65600-64900, stop-loss 500 points, target looking at 64000-63000,
Crypto Wave Riding: July 20 Ethereum Short-term Reference:
Short Position: Sell in the range of 1920-1890, stop-loss above 1950, target looking at 1870-1820,
Long Position: Buy in the range of 1800-1830, stop-loss 30 points, target looking at 1860-1900,
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