[BTC] Clinton Daily Analysis July 3 $BTC

24-hour trend [down]

[Buy and sell points]

Buy point 1: 60000 USDT (integer support, close to the recent low of 60383.77)

Buy point 2: 59000 USDT (further down to the previous low of 59600, with strong buying support)

Buy stop loss point: 58500 USDT (slightly lower than buy point 2, to prevent false breakthroughs)

Sell point 1: 62000 USDT ( Close to the pressure level of EMA7 moving average 61712.2 and the previous high 62135.47)

Sell point 2: 63000 USDT (close to the previous high 62899.99 and the pressure level of EMA30 moving average 64059.6)

Short stop loss point: 63500 USDT (slightly higher than sell point 2, to prevent false breakthroughs)

[Price trend analysis]

K-line pattern:

The recent K-line shows a volatile downward trend, especially the long Yinxian on June 24, 2024 (a sharp drop), showing strong selling pressure. A long lower shadow appeared on July 3, 2024, indicating that there is a certain amount of buying support at a low level, but the overall trend is still in a downward channel.

Technical indicators:

MACD: Both DIF and DEA are negative and continue to decline, and the MACD histogram is also below the zero axis, indicating that the short-selling force is dominant. RSI: RSI14 value is 36.3, close to the oversold range, but not fully entered, and there may be a rebound demand in the short term. EMA: The price is currently below EMA7 (61712.2) and far away from EMA30 (64059.6) and EMA120 (62810.4), showing a clear weak pattern. EMA7 forms a dead cross with EMA30 and EMA120, further confirming the downward trend.

Volume:

The volume on June 24, 2024 was significantly enlarged to 52161, accompanied by a sharp drop, indicating huge selling pressure. The volume has decreased in recent days, but it still remains at a high level, indicating that market sentiment is still cautious.

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