Evening analysis on July 17

On the four-hour chart, Bitcoin is repeatedly testing support near the middle line of the Bollinger Bands. After multiple attempts, no strong rebound has appeared, indicating that the strength of this support level is gradually weakening, but the overall market trend still leans towards bullish.

The hourly chart shows that the low point from yesterday is resonating with strong support, presenting a step-like upward trend. After a slight pullback, the bulls quickly exerted force to push prices up, and this trend and pace are expected to continue, maintaining a bullish outlook through midnight. However, it is important to note that after the price rises to a new high, one should guard against the risk of a pullback. It is advisable to observe the trend first; if the pullback is limited, then one can consider going long.

Operation suggestion: Bitcoin 117000-117500 range, target looking at 119000-120000 interval.