July 22 Midday Analysis

Reviewing the morning, the Bitcoin quickly retraced to the 118000 level after piercing 116000, and then Diǎn Wěi continued to operate between the middle track and the lower track. This position not only indicates that there is strong support near the lower track but also reflects that the middle track effectively suppresses Diǎn Wěi— the reverse momentum failed to break through the resistance of the middle track, leading the market situation to enter a narrow oscillation phase.

From the hourly level Bollinger Bands, the current middle band and the upper band are both tilting downward, forming a typical downward channel structure, indicating that the short-term trend is still dominated by the kline.

The MACD dual lines are in a horizontal consolidation state below the zero axis, and the volume bars are maintaining a contracted state at resistance, indicating that the current momentum is insufficient: the head has not been able to sustain the downward impact from the morning spike, and there is also a lack of strength to push Dian Wei upwards for a breakout, resulting in the market being in a balance period of momentum vacuum. This characteristic of "horizontal consolidation below the zero axis" usually means that the continuation of the short-term trend is weakening.

Overall, the current navigation situation is in the "short-term support反覃 in the downward trend + momentum vacuum oscillation" stage.
Therefore
The pancake can be arranged near the range of 118300-119600.
The target can be seen around the range of 116000-115000.
The two cakes can be arranged near the range of 3760-3800.
The target can be seen around the 3680-3630 range.