July 30th Short Cut: Bitcoin Analysis and Strategy
$BTC $ETH $SOL BTC/Daily Chart
At the Bitcoin daily level, this round of Bitcoin's unilateral decline is quite extreme, falling from 70,000 to 66,400, but the decline is not very continuous. The attached chart indicator shows signs of rebound, which is a strong correction. Combined with the weekly chart and whether there are signs of rising or not, it is not impossible for this rebound to hit back above 68,500, similar to the trend in early March, which is far beyond the market's cognition. It could have entered the short position long ago, and it also entered the long position risk area long ago, but it has been slow to go down. In short, for today or the future market, the safe approach is to wait patiently for the rebound to be in place, and continue to rebound near the short-term resistance to be bearish, so that it is not completely defensive and has sufficient room for decline.
BTC/4h chart
Bitcoin 4h level, after breaking the high yesterday, it fell back quickly. Generally, it will continue to rise in the morning of the next day, but I don’t recommend you to follow the trend to chase the rise, or to rebound against the trend with a light position and bet on the fall. However, this kind of trend, going against the trend to test the fall basically can’t go down, and following the trend directly to chase the rise is not daring, and the timid and steady choose to wait and see. Today, focus on the 65800 below, and it will be lost if it breaks, or continue to force a short, and start to fall. The starting point is near 63000 below, or there is a buying signal.
BTC/1h chart
Bitcoin 1h level, the yin and yang cycle has been repeatedly sorted out in the past few days, and the day is like a roller coaster. This trend has also appeared before. At present, 65800 continues to be used as a short-term defense. Before it is lost, a small position is bullish, and a small stop loss is used. If the price continues to retrace, it can stabilize above 63000 and then go bullish. The upper resistance is at 70000~72000.
Strategy 1: It is recommended to go long in batches/light positions at 66100~66500, stop loss at 65800, target at 69000~70000, and hold if it breaks.
Strategy 2: It is recommended to go long/short in batches/light positions at 70000~70500, cover positions at 71500, stop loss at 72000, and target around 66500
The above is personal advice for reference only. Investment is risky and trading should be cautious
