Market outlook on the morning of 7.21

The recent downtrend of Bitcoin has shown significant volatility, with the price center gradually moving downward. It can be said that Bitcoin is being pressured by some altcoins and the Auntie. At such a high level, there are not many retail investors buying in; it used to be high and mighty, but now it feels a bit downcast, only able to fall back to absorb chips, but it’s not enough; it needs to drop below 1,100,000.
In the short term, due to the appearance of patterns such as "Black Three Soldiers" and "Belt Hold Line", the bearish momentum is clearly dominant, and the downtrend may continue. Although the bottom formation briefly stabilized the market, it has not changed the overall weak trend. There is a possibility that the price may continue to seek support around the previous low of 115200.
Although the concubine has also seen a decline, the overall upward trend has not changed. It cannot be ruled out that this is the main forces using the momentum of the large pie to induce short positions. Of course, in the short term, it is still a rebound to take short positions. We need to wait for the daily support at 3600 to break before confirming whether to continue looking downward.

Trading suggestion: Short around 117600-118000 for Bitcoin rebound, stop loss at 118500, target near the 116800-116300 area, if it breaks, look for 115200-115500 area, if it doesn't break, go long.
Concubine trading suggestion: Short near 3770-3780, stop loss at 3820, target around 3725, if broken, look at the area around 3680-3700, if not broken, go long.
#特朗普施压鲍威尔# #ETH突破3600#