Bitcoin analysis on Friday afternoon, July 12

Yesterday, the price of Bitcoin surged all the way to the 59,600 area, and then it was under pressure and quickly bottomed out to the 56,500 area, and then rebounded slightly to around 57,200. This violent fluctuation increased the uncertainty of the market and made it difficult for coin friends to figure out the next trend of the market.

From the technical structure, the short-term K-line has closed three consecutive negative lines with a long upper shadow line, which shows that the bulls were suppressed when they rose, and the bears took the opportunity to launch a strong counterattack, so we must pay close attention to the strength of the coin price retracement. From the 4-hour chart, Bitcoin's upward trend is obviously under pressure, and the moving average indicator also turns downward with the price of the currency, so we will consider going long after the downward trend stops in the future

Operation suggestion: Go long at 56000-56500, target at 59000

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