Daily Market Interpretation - BTC 07/22 BTC has rebounded smoothly at the two support levels mentioned earlier by Sugar Brother. Today, there is no need to change the view on the major level. We will update and supplement some details on the secondary trend. From the daily trend, we still follow yesterday's approach. This level has not yet reached the stage of complete reversal, but it is also in the middle and later stages of sideways trading. The direct upward trend lacks the support of sedimentary chips and mainly waits for opportunities to explore downwards. From the range of 4H to 12H, the low point of intraday retracement is consistent with the range of long and short mentioned earlier. These two structures represent the mid to long term trend, both of which are in the high volatility on the bullish side. Under this premise, it is still too early to directly bearish. The opportunities that can be provided should be followed by retracement to the lower track of the retracement box, retracement to break through the box, and small-scale breakthrough retracement within the box. From the trend of 1H and below levels, it can be seen that the moving average system has reached a critical point, and if the bulls do not advance, they will retreat. If the price cannot launch a shock towards the 120000 yuan band in the next two days, the probability of the center of operation moving downwards will increase, and orders can be placed in advance and then sequentially downwards. Summary: The midline structure is still oscillating at a high level on the bullish side, but the trend at a small level is not ideal. 12HMA30 can still provide one opportunity to look long and short during a slow decline at a small level. Other trends require real-time tracking, please watch the content later. Short term support: 116888~116375 (third time looking long and short, slow decline can enter), second support: 114254~112468 (1:2 sharp drop to rebound), short-term suppression is in the current area, pay attention to take profit in the current structure, and further form suppression: 119599~120586 (do not make a breakthrough) Tip: Trends are not created out of thin air, but rather the causes and consequences. Therefore, it is important to review the previous content and learn from the past to gain new insights. BTC