BTC
1. Trend review
From the 1-hour K-line chart of BTC, we can see that BTC has shown a relatively obvious downward trend in recent trading sessions. After reaching a high of 60597 points in the previous period, the price has rebounded and has fallen sharply recently. The current price is around 58435.2 points. Overall, the market is dominated by short-selling forces in the short term, and there is a certain downward pressure.
2. Technical Analysis
Moving average system:
MA5: The current price is below the 5-day moving average (58831.1), which shows that the short-term trend is still weak and bears have the upper hand.
MA10: The 10-day moving average (59313.4) shows that the price is still suppressed by the short-term moving average.
MA30: The 30-day moving average (59626.1) also exerts strong pressure on the price, and the MA moving average shows a short position arrangement, which strengthens the short-term short position trend of the market.
EMA System:
EMA7 shows that the price is at 58971.7, which is still above the current price, indicating that the short-term market is still digesting short pressure.
MACD indicator:
The MACD line is currently below the zero axis, and the fast and slow lines are diverging downward, suggesting that the short-selling force is strong and the market has not yet seen an effective reversal signal.
RSI indicator:
The RSI is around 40, which is close to the oversold area, but there is no obvious rebound signal yet, which means that the market may continue to decline.
3. Support and resistance levels
The first support level: 58200 points. This point is close to the recent low point. If the price is supported here, a certain rebound may occur in the short term.
The second support level: 57500 points. If it falls below 58200, BTC may further drop to 57500, which is a stronger support area, and the market bulls may exert their strength here.
The first pressure point: 59,000 points. If there is a short-term rebound, BTC will face pressure at 59,000 points, which is the junction of the short-term MA5 and EMA7 moving averages.
The second pressure level: 59500 points. If the bulls successfully break through 59000, the price may continue to rise and challenge the 59500 pressure area.
4. Operational Strategy
Long strategy:
If the price is supported at 58,200 points and there are obvious rebound signals (such as a rebound with large volume or an RSI rise), you can consider placing long orders with a light position and target 59,000 points.
If it breaks through 59,000 points, you can add positions appropriately, with the target looking at 59,500 points. But you need to pay attention to the changes in volume and avoid chasing highs at pressure levels.
Short strategy:
If the price falls below 58,200, short orders can be followed up, with the target at 57,500 points. The stop loss is set above 59,000 points to prevent rebound risks.
If it falls below 57,500, bears may consider continuing to hold, with the target at 57,000.
Stop loss setting:
Long: It is recommended to set the stop loss below 58,000 points to avoid losses caused by further price weakness.
Short position: Stop loss is set above 59,000 points to prevent losses due to a strong price rebound.
On the whole, BTC is likely to fluctuate and consolidate in the range of 58,200-59,000 today. The short-term short-selling force is still strong and the price may continue to fall. If it can get effective support near 58,200 points, the market is expected to usher in a wave of rebound, with the target looking at 59,000 points and 59,500 points.
In terms of operation, investors are advised to pay close attention to the support strength of 58,200 points, enter the market with a light position, and operate flexibly. At the same time, if the price falls below the support, short orders can be considered in the short term to cope with possible further corrections.
The market is unpredictable and opportunities are fleeting. Only by paying close attention to every subtle change and seizing your own opportunities can you remain invincible in the ups and downs of the market. Are you ready today? Let's look forward to the wonderful performance of the market together!
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