7.16 crypto world Mr. Coin: Bitcoin (BTC) market analysis reference

Bitcoin's market remained in a range consolidation yesterday, with prices fluctuating between 115600 and 118500. The trend did not break upwards as expected, but the pullback long positions still seized the opportunity. Congratulations to those who followed along. Currently, the market continues to oscillate, and the focus will be on the breakthrough of the 119000 level. If it does not break, the current oscillation pattern will remain unchanged. On the contrary, the market is expected to further test upwards, with a possibility of breaking through the 12 mark.

On the daily chart, yesterday's trend ended with a bearish candle, and the price faced pressure around the 118500 level. The bullish sentiment during the day has started to weaken, and the market is under pressure entering a correction. Currently, the ten-day moving average still maintains an upward posture, but there is strong resistance at the 12,000 level. Therefore, for short-term operations, it is advisable to short at high levels and long at low levels, with a focus on the range of 115000-118000.

7.15 Bitcoin short-term reference:

The trial short position is set between 117500-118500, defend with a supplement at 120000, stop loss: 500 target below 116500.

Test the long position at 115,000 to 116,000, stop loss at 500, defend at 113,000 for an add-on, target above 117,500.

There is a delay in article transmission, and the strategy suggestions are for reference only. Market conditions change rapidly, and no matter how accurate your market judgments are, you must always set take profit and stop loss orders to secure your gains.