Master looks at the trend:
BTC daily chart:
Based on the fact that Bitcoin has broken through the upper edge of the box on the daily level, it has formed a large positive line and returned to the upward trend.
Currently, the ETF market continues to see net inflows, and Bitcoin is seen as a means to combat currency depreciation. Coupled with the increased likelihood of Trump's election, it is judged that there is a rebound at present.
In view of the sharp rebound, the view of rising can be maintained as the main trend. Short-term operations can be carried out within a sufficient callback range. Due to the increase in volatility, short-term transactions can be carried out in time to take profits.
After the big positive candlestick, you can pay attention to the lower shadow formed by the next K-line, and then take action after confirming the short-term trend in the lower small-level chart.
Resistance level reference:
First resistance level: 65450
Second resistance level: 66600
If the price breaks above the first resistance level, further bullish momentum could be in the cards and a sharp rally could also be in the cards.
At the current stage, the 60-day and 120-day moving averages can be set as staged resistance levels, breakthrough transactions can be carried out in the breakthrough range, and the backtest after the moving average breakthrough can be observed.
Since the market may go sideways after the formation of a large bullish candle, it is safer to operate after sufficient observation.
Support level reference:
First support level: 64000
Second support level: 62900
If the price adjusts to the first support level, it can be regarded as an ultra-short-term entry opportunity, and observe whether there is a rebound after the trading volume decreases.
Today's maximum downside space is reserved for around 63,000, but currently it is expected to rebound after maintaining support at 64,000.
Today's trading suggestions:
In today's trading, the main view is to keep the upward trend. You can pay attention to whether the lower-level chart forms a higher low and operate with a rebound view.
As there is still resistance from the 60-day and 120-day moving averages above, although the risk-return ratio of short positions is better, due to strong buying, short positions are not as superior as the view of mainly taking long positions during pullbacks.
Please refer to these suggestions when trading
7.16 Master's short-term pre-buried order:
Long entry reference: 62900-63300 range, long in batches, defense 500 points, target 64000-65450
Reference for short entry: short in batches between 66600-67000, defense 500 points, target 65450-64000
