The four-hour chart shows the Bollinger Bands in a contracted state. After a large bearish candle broke through the lower band, the bulls rebounded, pushing the price back above the lower band. Overall, it still maintains a small range of oscillation. For the morning operations, it is advisable to wait for a price pullback before positioning for a long trade. The big cake suggests to layout around 116500-117200, with targets looking towards 118400 and 119000. If it breaks through, it can continue to look down; if not broken, you can try to reverse. Ethereum suggests a layout between 3720-3760, aiming towards the vicinity of 3820-3850.
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Morning Thoughts on 7.22
The four-hour chart shows the Bollinger Bands in a contracted state. After a large bearish candle broke through the lower band, the bulls rebounded, pushing the price back above the lower band. Overall, it still maintains a small range of oscillation. For the morning operations, it is advisable to wait for a price pullback before positioning for a long trade.
The big cake suggests to layout around 116500-117200, with targets looking towards 118400 and 119000. If it breaks through, it can continue to look down; if not broken, you can try to reverse.
Ethereum suggests a layout between 3720-3760, aiming towards the vicinity of 3820-3850.