Bitcoin analysis on July 12
The operating framework of BTC is now very clear, with the lower half of 56,000-54,000 and the upper half to 59,700. Now the concentration of long orders is getting higher and higher, and the number of bottom-fishing is also increasing. If the market returns to the lower consolidation zone again, the probability of creating a low point will increase, and the long test will continue to be liquidated
52,000-50,000 support German selling pressure has almost been digested by the market, and there are more than 6,000 BTC left. There may be a period of Mentougou selling pressure in the future. Yesterday's CPI positive rate cut expectations have been pushed forward to September, when the negatives of Mentougou have been exhausted, the US election, ETH upgrade, Ethereum ETF, FTX release of funds and the Fed's easing of liquidity,
Currently, it is in a descending harmonic shape. The current stage is to patiently wait for the right position to hoard coins for intraday operations or refer to wide fluctuations,
Resistance level reference: 57500 58700
Support level reference: 56500 55000
