Morning analysis of 7.22

Last night, Bitcoin first fell and then rose, being pushed down from around 118,400 all the way to 116,600. This morning, the bulls began to fight back and it is now fluctuating around 117,200. Ethereum also followed suit, dropping from 3,815 to 3,716, and is currently rebounding to around 3,760.

Short-term trend analysis:
Looking at the 1-hour chart, Bitcoin has consecutively closed several bullish candles, indicating that the bulls are gradually gaining strength. Although the MACD is still underwater, the green bars are shortening, suggesting that the bearish momentum is weakening. If it can hold above 117,500 in the short term, it may continue to push towards 118,400, and if it breaks through, there’s a chance to surge even higher. The performance of Ethereum is similar, with support around 3750, and the initial rebound target is set at 3840.

Operation Suggestions:
- Buy around 117,000 for BTC, stop loss at 116,500, target at 118,400, if it breaks through look at 119,000.
- Buy around 3740-3760 for Ethereum, stop loss below 3700, target 3840, if broken look at 3950.

Note:
- The market is still volatile, don't over-invest.
- If the key resistance levels (118,400, 3840) cannot be broken, short-term profit-taking is possible.
- Set a good stop loss, don't hold the position.