【Price Trend Analysis】
K line shape:
Bitcoin prices have recently fluctuated around $57,000, showing strong support and pressure levels. The K line on July 8 has a long lower shadow, indicating that there is strong buying support near $57,000.
Technical indicators:
MACD: On the 4-hour period, both the fast and slow lines of MACD are below the zero axis, but are showing signs of convergence, which may indicate a rebound in price. At the daily level, MACD is still in the bearish zone. RSI: In the 4-hour period, the RSI is close to 50, indicating that the market is in a neutral to weak state; while at the daily level, the RSI is between 40-50, not entering the oversold zone. EMA: In the 4-hour period, the short-term EMA (7) and the long-term EMA (30) cross downward, indicating that the short-term trend is biased towards the short side; while the long-term EMA (120) is much higher than the current price, suggesting that the long-term trend is still bearish.
Volume:
The trading volume on July 8 increased significantly, accompanied by violent price fluctuations, showing the fierce competition between long and short parties in the market. The trading volume of several recent K lines has gradually decreased, reflecting the increasing wait-and-see sentiment in the market.
【Strategic Suggestions】
Bitcoin (big pie): Pay attention to the short-term support located in the range of 55,900-55,000 US dollars, and the important support is located at 64,500 US dollars. The short-term pressure is located in the range of 57,000-57,800 US dollars, and the important pressure is located at 58,500 US dollars.
Ethereum (two pieces): Pay attention to the short-term support located in the range of 2930-2890 US dollars, and the important support is located at 2850 US dollars. The short-term pressure is located in the range of $3080-3180, and the important pressure is located at $3220.
The above suggestions are for reference only. Investors should consider market risks when making trading decisions, and operate in conjunction with personal risk preferences and trading strategies.
If you want to know more about the currency circle and first-hand cutting-edge information, click on the homepage profile to join us! Publish market analysis every day and recommend high-quality potential currencies
