7.23 crypto world: Bitcoin (BTC) market analysis reference

Bitcoin failed to break below the support level after several pullbacks yesterday, and the subsequent rebound tested the resistance at the upper 120,000 mark. The intraday trend continues to rebound, and as of the time of writing, the market has seen an increase of nearly 4,000 points. The current price is once again close to the 12 level, with the intraday high being pressured at the 120,300 position. The price has shown significant volatility in recent bullish and bearish trends, so I hope all crypto friends can manage their risk well.
On the short-term 4-hour chart, the Bollinger Bands are in an opening posture, and the price is operating in the middle to upper band area. As of the time of this writing, the rebound momentum is weakening. If the price cannot stabilize around the 120,000 level, there is a possibility of a pullback to the lower support. Although the price has shown a strong rebound during the day, the overall trend is still within a range, so it hasn't broken through key levels. It is not recommended for crypto friends to blindly chase highs and sell lows. Pay attention to the stabilization situation around the 120,000 level for resistance above, and look for support around 118,000 below.
Bitcoin short-term reference:
Down test position 119900 - 121000, defend 122500 supplement, stop loss: 500 target below 119000,
Long at the test warehouse point 117500-116500, stop loss 500, defend 114500 for replenishment, target above 118500