Hot topics of Master Chat:

Bitcoin is currently continuing to rise driven by multiple positive factors, including:

  • Trump's chances of reelection

  • Expectations of a rate cut in September

  • Ethereum Spot ETF is Coming Soon

Bitcoin is still rising after digesting the selling pressure from Mt. Gox.

Master looks at the trend:

BTC 1 hour:

After breaking through the high of 64.8K yesterday, Bitcoin formed an upward N-shaped fluctuation and broke above the convergence triangle.

Since there has been a sharp rise, I do not recommend buying at a high price. Instead, you can wait for the overbought area and adjustment range, and pay attention to the opportunities after the pullback.

Although a bearish divergence has formed at present, the RSI indicator has not yet turned downward, so a rebound can be expected in the short term.

However, due to the formation of a bearish divergence, if the price falls under the current circumstances, I think this is a buying opportunity.

A falling wedge pattern is forming at the 1-hour level, and the probability of adjustment is increasing at the end of the wedge pattern. However, due to the strong buying in the current market, if the upper pressure level is broken, there is a possibility of a sharp rise.

Resistance level reference:

First resistance level: 65650

Second resistance level: 66600

It is currently testing the first resistance level. If it can continue to break through and set new highs, then we can continue to maintain a bullish view.

Rather than entering the market immediately, it is better to pay attention to the test of the first resistance level and wait for a pullback, which is more conducive to risk management.

Support level reference:

First support level: 64800

Second support level: 64100

The first support level is also an ideal area for ultra-short-term entry. At present, waiting for the emergence of adjustments would be a better strategy.

Since the high point is being tested, instead of expecting a direct rise without adjustment, it is better to wait for adjustments before entering the market and looking for a rebound.

Today's trading suggestions:

In today's trading, maintain a bullish perspective and pay attention to opportunities to go long on pullbacks.

Since there has already been a large increase, instead of expecting continued growth, it is better to consider the possibility of adjustment, which is more favorable to the risk-return ratio.

If there is no entry opportunity and the price continues to rebound, then you can wait and see patiently and pay attention to the bottoming situation.

Please refer to these suggestions when trading

7.17 Master's short-term pre-buried order:

Long entry reference: 63700-64100 range, long in batches, defense 500 points, target 64800-65650

Reference for short entry: short in batches in the range of 66600-67000, defense 500 points, target 65650-64800#美国大选如何影响加密产业？ #以太坊ETF批准预期 #BTC☀️ #BTC走勢分析 #比特币走势分析