Morning trend on 7.23

Last night, although the big pancake dipped down quickly, it soon began to rebound and ultimately broke directly above the 120,000 points line, reaching 120,400. However, after rising, the bulls were unable to maintain the upward momentum and started to pull back in the morning.
From the 1-hour K-line of Bitcoin, the price is running near the upper Bollinger Band, where there is significant resistance above, leading to a downward movement. Currently, it is in a downtrend state, with the price also falling below the upper Bollinger Band, indicating a downward trend. Overall, it is in a retracement state. Moreover, the MACD lines are clearly reaching a peak during their upward movement and have begun to retrace, indicating that the bullish momentum is gradually weakening. The KDJ three lines have crossed downwards and a golden cross has appeared, indicating a downward trend.
It is recommended to buy around 119500-120000, with targets looking towards 118000, 117000, and 116000. If it breaks through, you can continue to look down; if it doesn't break, you can try to reverse.
Ethereum suggests to buy around 3760-3800, with a target looking towards 3700, near 3650.
#山寨季来了？# #币圈#