7.17 Bitcoin continues to surge! All key profits have been taken!
The current price of Bitcoin has reached around 65,800. We can see from the chart that this wave should be considered a false break at the daily level. It broke through the resistance below but quickly recovered. The price returned to this large box and quickly reached the top of the box.
Then our member community also started to ambush this long order near 59,000, and successfully reached the target designated position of 64,500 yesterday, and took 5,500 points of profit in one fell swoop.
Then yesterday, Bitcoin gave a little callback after it came up. According to our thinking, the price will quickly reach the top of the box when it returns to the box, so we also actively entered the market when it was callback yesterday. The entry position was about 63,500, and the designated target was 65,500. Then, with this wave of rising trend, the price quickly came to the target stop-profit position, and took two large profits in one fell swoop.
From the chart, we can also see that after the formation of the big positive line the day before yesterday, the strong upward trend has been determined. We can compare the situation after the previous false break and find that after the big positive line I marked in the figure appeared, the price basically did not give too much correction and went up directly. A few days later, there was another big positive line, and it came directly to the vicinity of the historical highest point of Bitcoin.
Then I expect that the situation of this wave of Bitcoin should be very similar to the market after the previous false break. With the current situation, the correction given by the market is an opportunity to get on the train. I don’t think it will fall quickly for the time being when such a big positive line appears on the daily line, but everything should be cautious. When everyone gets on the train, pay attention to your stop loss.
