Don't be afraid of this market; it's just a range-bound fluctuation! When it goes up, it's advisable to short (in the range of 119,000-120,000), and when it goes down, just go long at lower levels (in the range of 114,000-115,000).
Currently, the daily chart shows a hammer candlestick with a long lower shadow, indicating that there is still some buying support below. Due to the weekend, the expectation for market recovery has further strengthened, and it is likely an adjustment after a decline.
From the hourly perspective, the market has encountered significant resistance after a small upward stretch that touched the upper Bollinger Band. The short-term bullish momentum seems to have run its course, and it is expected that the next few days will still revolve around range-bound fluctuations. We'll see what happens in August! #BTC
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