2026-01-17 01:43:28

#BTC 🚀Analysis of the Market in the Morning of July 17 | Bitcoin Accumulating for a Breakout

🔍 Four-hour level: Healthy correction, strong support
• Currently, the four-hour chart is in a healthy correction cycle, with multiple long lower shadow candlesticks, which is a clear signal of strong buying support below.
• The current pullback is a typical technical correction, and there is no need for excessive panic. The previous large bullish candlestick marked a key defensive zone for the bulls. As long as the price stabilizes above this level, the overall strong consolidation pattern will remain intact.
• Short-term retracement is essentially to build momentum for subsequent upward movement; the core trend logic remains unchanged.
⏱️ Hourly level: Digesting pressure, trend unchanged
• The hourly chart has gradually digested the previous overbought pressure, with short-term oscillation slowing down, but the upward trend remains clear.
🎯 Trading Strategy
Bitcoin
• Suggest to gradually build long positions in the 94800-95200 range
• Target levels are 97000-97500

BTC-0,47%

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