$BTC Market Daily Report — 7.23 🔥
Daily Chart
1) Still in a range-bound oscillation, nothing much to mention.
The key level remains at 1195. If it breaks 121 and holds above 1195, we can look for new highs.
Otherwise, if 1195 is rejected, then 1155 is waiting for a raid, and after that, we first look at 114, then at 110's D1 bullish order block.
2) Personal Opinion:
Currently entering a macro blank period, combined with ETF outflows and the probability of the US stock market peaking. My personal view on BTC is leaning towards a correction; I believe a pullback is needed for a healthier rise.
Hourly Chart
1) Yesterday, after a downward spike raided Monday's low, it rebounded upwards and raided Monday's high, continuing to test the bearish order block.
2) Personally, I lean bearish; if this bearish order block cannot break and hold, then it is bearish.
3) Currently, it continues to oscillate up and down, waiting for a directional choice.
My advice to everyone is to trade within the range and absolutely avoid chasing highs and cutting losses.
$usdt.d
Currently forming a converging triangle.
Also waiting for a directional choice.
Here's a position to buy BTC: wait for usdt.d to rebound and reject at the bearish order block.
$BTC Weekly Market Report — 7.21🔥
Weekly Chart
1) Last week, BTC was in a top-side consolidation, then $ETH had altcoin opportunities.
We can see that an fvg has formed below the BTC weekly chart.
These fvg will definitely be targeted.
So don’t panic, now BTC has given enough time for ETH altcoins,
now it’s time for BTC to shine.
I’m not saying BTC will drop immediately or anything, just that the liquidity around the fvg near 11 is waiting to be tapped, so pay attention to buying opportunities here.
2) This week’s focus is on Tuesday at 8:30 PM, where Fed Chair Powell will give a welcome speech at a regulatory meeting.
This will determine whether this week trends bullish or bearish.
3) From Wednesday to the July 31 interest rate meeting, this is a blank period, I will continue to watch for altcoin season, unless there are significant changes. Then BTC and ETH will continue to push upwards.
Then we’ll move into August.
Daily Chart
1) Here BTC is seen constructing an idm and a lower fvg, both are liquidity waiting to be tapped.
But currently, the support at 1156 is still holding; if it doesn’t break, you can’t look for downward liquidity.
2) However, if it wants to continue making new highs, the key level is still eq 1195.
It needs to hold above this to continue looking for new highs; otherwise, if it keeps oscillating in the discount zone, which is below 1195, the probability of downward liquidity grabbing is higher.
3) So currently, the key level for BTC is 1195.
Then 1156, if it breaks down, pay attention to downward liquidity grabbing, first looking at 114, then 110.
Hourly Chart
1) The chart is a bit messy, but bear with it.
First, the red arrow indicates that a higher-level msb actually exists, then after testing upwards, the current green arrow indicates that the H1 level continues to move in a downward structure.
2) So for now, look for a bearish trend; here the H1 shows a bearish ob rejecting further downward movement.
This means if you short, set your stop loss at 119, and target 1156. Then see if it breaks down or grabs liquidity.
3) If it breaks above 119, which is the H1 bearish ob, then you can’t short anymore; pay attention to whether it can hold above 1195 to test new highs.
$usdt.d
Still in a downward structure; if BTC is to start dropping, then USD must break this bearish ob, with a performance of 4.33%. Everyone should pay close attention to this level.
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