Market Analysis
Bitcoin experienced a correction after yesterday's rise and is currently looking for support around 63,800 points. The daily chart shows that the price has reached our preset 63,800-point long order layout area, and has currently made a profit of more than 500 points. Conservative investors can choose to take profits at this time, while aggressive investors can continue to pay attention to the pressure at the 65,200-point line before deciding whether to exit.
Daily chart analysis
At the daily level, Bitcoin is currently running near the middle line of the Bollinger Bands. If the price continues to break through 65,200 points, it will open up further room for growth. However, if the 63,800 point support level is broken, it may trigger a further correction, with the target looking at the 61,800-62,300 point area.
Four-hour chart analysis
On the four-hour chart, Bollinger Bands began to close, and the price maintained support near the middle track. If the 63,800 support level is broken, it may trigger a larger decline, and the price may test the support area near 61,800-62,300 points. The current trend is relatively stable, and the strength of both long and short sides is relatively balanced.
One hour chart analysis
The one-hour chart shows that Bitcoin has been running in a downward channel for a period of time, and the price has encountered suppression near 64,800 points. The support below is 63,300 points. The current price fluctuations are large, and it is necessary to pay close attention to the changes in support and pressure in the short term in order to adjust the operation strategy in time.
Recommendations
Short-term operation strategy:
Robust strategy:
If the price continues to rise to around 65,200 points, consider gradually taking profits to avoid floating losses caused by pullbacks.
Aggressive Strategy:
If the price pulls back to around the support level of 63,800 points, continue to hold long positions and pay attention to the high pressure of 64,800 points. If it breaks through, hold further.
Margin Call Strategy:
If the price further pulls back to the range of 61,800-62,300 points, you can consider adding to long positions in batches and gradually take profits when the price rebounds to around 64,800 points.
Please pay close attention to market dynamics, adjust your operating strategies in a timely manner, and pay attention to risk control. Be flexible in responding to market changes to ensure optimal returns in volatile markets.
risk warning
Investment is risky, so be cautious when entering the market. The above analysis is for reference only and is not intended as investment advice. Investors need to develop trading strategies based on their own circumstances, pay attention to fund management, and control risks.
