BTC
Chart analysis (data as of July 12, 2024)
K-line pattern analysis
As can be seen from the figure, BTC has shown a downward trend recently, and the current price is 56964.8 USDT.
The price has been falling since it peaked at 73881.4 USDT and is currently in a low-level consolidation phase.
Moving average analysis
Short-term moving average (7-day EMA): The price is running below the 7-day EMA (57555.8 USDT), indicating that short-term market sentiment is weak.
Medium-term moving average (30-day EMA): The price is far below the 30-day EMA (60944.3 USDT), and the medium-term downward trend is obvious.
Support and Resistance
First support level: The price is supported near 55,000 USDT. If it falls below this level, it may fall further to 50,000 USDT.
Second support level: The price has strong support near 38545.0 USDT. If it falls below this level, the price may fall further.
Resistance level: The upper resistance level is 60,000 USDT. If this level can be effectively broken, there is a high probability that it will continue to rise in the short term.
Volume Analysis
Trading volume increased during the price decline, indicating that the market was under great selling pressure.
The current trading volume is still at a high level, indicating that market sentiment is cautious and wait-and-see.
CCI indicator
The CCI indicator is currently at -79.9, indicating weak market sentiment.
If the CCI indicator rises back above 100, it will indicate that market sentiment is strengthening and prices are expected to rise further.
RSI indicator
The RSI indicator is currently around 30, showing that market sentiment is weak and prices may continue to fluctuate downward in the short term.
Future Trends Prediction
In the short term
Oscillating downward: The price may fluctuate between 55,000 USDT and 60,000 USDT. If it can break through 60,000 USDT, it is likely to continue to rise in the short term.
Downside risk: If it falls below 55,000 USDT, the price may fall further to 50,000 USDT or lower.
Medium to long term
Rebound after adjustment: If the price is supported near 55,000 USDT or 50,000 USDT and the trading volume increases, there may be a rebound opportunity.
Trend confirmation: If the price rebounds and breaks through 60,000 USDT and 63,000 USDT, the medium- and long-term trend will turn strong again.
Operational Strategy
Long Strategy
Buy on dips: When the price gets support near 55,000 USDT or 50,000 USDT and a rebound signal appears, you can buy in batches.
Breakout Buy: When the price breaks through 60,000 USDT and the trading volume increases, you can buy according to the trend.
Short selling strategy
Short on rallies: When the price is blocked near 60,000 USDT, you can consider shorting.
Breakthrough short selling: When the price falls below 55,000 USDT, you can follow the trend and short sell.
risk control
Stop profit and stop loss settings
First stop profit position: 60000USDT
Second stop profit position: 63000 USDT
Stop Loss：54000 USDT
BTC has fallen from a high level recently, and the short-term trend is weak, with the price fluctuating between 55,000 USDT and 60,000 USDT. The operation strategy recommends combining buying on dips and buying on breakthroughs, while looking for shorting opportunities near key resistance levels.
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