In-depth analysis of Bitcoin market on July 3

Today, the Bitcoin market showed a clear suppression trend, and the technical indicators on the 1-hour chart and the 4-hour chart all pointed to a short-term bearish trend. Specifically, Bitcoin failed after multiple attempts to break through the key resistance level, further confirming the current weak market pattern.

1-hour chart: The Bollinger Bands channel opened downward, indicating that the short-term trend was bearish. The K-line quickly fell back after hitting the strong resistance level where EMA200 and EMA80 overlap, indicating that the area was under heavy pressure. The current price of the currency is below EMA120 and EMA150, and the pressure range is clearly 62200-62400 US dollars. In the MACD indicator, DIF and DEA opened up again after failing to close at a low level, further confirming the existence of a short-term bearish trend.

4 hours: The Bollinger Bands channel also remained open downward, strengthening the judgment of the bearish market. The currency price encountered a strong retracement after the second test of EMA120, verifying the resistance effect of the moving average. In addition, the three lines of KDJ diverge downward strongly, and the DIF and DEA in MACD form a dead cross below the 0 axis and increase in volume, all pointing to the unchanged main short idea during the day.

Operation strategy

Range oscillation operation: Given that the current market may be in a range oscillation state, it is recommended to adopt a flexible strategy of short first and then long. On the basis of clarifying the resistance and support levels, flexibly adjust the position according to the real-time market changes.

Steady short strategy: It is recommended to short lightly in the range of 62000-62300 US dollars, and the position is controlled at about 3%. The range of 63000-63300 US dollars can be reserved above as a position replenishment point, with a replenishment ratio of 6%, and a stop loss of 63500 US dollars can be set to control the risk. The stop profit target can be set in the range of 61500-61100 US dollars, and it can be adjusted flexibly according to market conditions.

Potential long opportunities: If the market falls below the range of 61000-60600 US dollars and continues to decline, it is recommended to carefully observe whether there are oversold signals and signs of rebound. At this time, you can consider entering the market to go long in combination with the changes in real-time disk data, but you should be aware that the risk of short-term long is relatively high, and you need to strictly control your position and stop loss.

Risk Warning

The cryptocurrency market fluctuates violently, and any investment decision must be based on sufficient market analysis and risk assessment. The operational suggestions provided in this article are for reference only and do not constitute investment advice. Investors should make independent judgments based on their own risk tolerance, investment goals and market conditions.#币安合约锦标赛