6.4 Bitcoin market analysis and operation suggestions
Market Analysis
1 hour level
Pattern analysis: Last night, the price of the currency appeared an upper pin when it was close to the top trend line, and the Bollinger Bands upward channel ended, and entered the parallel channel in the short term. The price of the currency fell back to the EMA15 position.
Technical indicators:
Bollinger Bands: The upward channel has ended and will turn into a parallel channel in the short term.
KDJ: J line failed to turn upward, and the three lines continued to spread downward.
MACD: The volume continues to increase below the 0 axis, and DIF and DEA form a dead cross at a high level.
4-hour level
Pattern analysis: The Bollinger Band channel is closing, and the price of the currency is moving downwards towards the middle track and the first trend line support position of EMA10.
Technical indicators:
KDJ: The three lines are in the area of competition between bulls and bears. They move downward after crossing, but the support level has not been effectively broken.
MACD: Volume shrinks above the 0 axis, and the bulls are still relatively strong.
Daily level
Pattern analysis: The coin price surged upward from EMA15 to the top trend suppression position, forming a larger triangle convergence pattern.
Technical indicators:
KDJ: Three lines begin to cross upward.
MACD: The volume on the lower side has been decreasing since yesterday, and DIF turned upward and formed a closing pattern with DEA.
Comprehensive analysis: Bitcoin is currently showing a short-term trend of volatility and correction, but the overall bullish force is still there. In the short term, we can pay attention to the performance of key support levels and consider long opportunities when the support is not broken.
Recommendations
Long Suggestions
First long position: $68400-68600 range
Stop loss: $68,200
Targets: $69,100, $69,600, $70,200
Breakout: If it breaks through the $70,300-70,500 range, it can continue to hold until around $71,000
Second long position: $67550-67900 range
Stop loss: $67,400
Target: around 1000-1500 points
Short Selling Recommendations
First short position: $70,300-70,000 range
Stop loss: $70,500
Target: 500-800 points
Trading Tips
Short-term operation: It is recommended to sell high and buy low between key support and resistance levels, and strictly set stop loss and take profit.
Market dynamics: Pay attention to the dynamic changes in the market, especially the support and resistance levels at key positions, to prevent market manipulation caused by major players.
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