7.18 Bitcoin thoughts!

Today, the Bitcoin intraday market fluctuates significantly. The current price is hovering around 120,000 dollars, in a high-level consolidation situation. From a technical perspective, the MACD indicator shows that bullish momentum has weakened, and the KDJ indicator is in the overbought region, indicating a demand for a correction.

On the news front, the U.S. House of Representatives passed relevant legislation, bringing new expectations for cryptocurrency regulation, which to some extent supports the price of Bitcoin. However, it is important to note that Bitcoin has seen significant gains recently, accumulating a certain level of profit-taking.

In terms of operations, if the price retraces to around $118,000, aggressive traders can consider going long with a small position, setting a stop-loss below $117,000, and aiming for a target of $122,000. If the price rebounds and encounters resistance at $122,000, a small short position can be attempted, with a stop-loss set properly. In short, during intraday volatility, everyone must manage their positions and risks well. #btc#