Evening Market Analysis on July 29
Bitcoin maintains a narrow range of fluctuations on the 4-hour chart, with prices oscillating between the upper and lower bounds of the range. The market remains stagnant, and there has yet to be a clear direction. Although there was a rebound in the morning, the upward momentum was insufficient, and the gains could not be sustained, leading to an overall weak adjustment during the day. In the evening, signs of a bottoming out are appearing, entering a phase of consolidation.
Trading Suggestions:
Bitcoin: Trade within the range of 118700-119200, target down to 117400; if it doesn't break, then open a reverse position.
Altcoin: Trade within the range of 3830-3850, target down to 3750; if it doesn't break, then open a reverse position.
The above are personal suggestions for reference only.
