Bitcoin's ups and downs are shaking, everyone needs to pay attention to the support level around 67200.
Tonight's fluctuations have been relatively good, once again rising quickly to around 688 before dropping back to around 673. The current price is around 67800, and there is some selling pressure at this position. Only after stabilizing effectively can we welcome a new rising trend. We reduced our long positions at 683000 for $BTC 67000, and the long positions entered at 67680 also indicated a reduction at 68300. Everyone should pay attention to the specific support strength at the position of 67200.
From the daily level, there are still signs of a certain pullback. The four-hour level is suppressed by the upper Bollinger band, and the recent pullback has just touched the middle band for a rebound. The RSI 9-day moving average shows a sign of turning upward, and the MACD green energy bars are running above the zero line with a reduction in volume. The fast and slow lines have formed a golden cross below the zero line, spreading upward. The important position is still to focus on the support strength near 67200. For friends who do not hold positions, we can consider taking a long position near 67200 with a small loss.
Although this round of market has pressed down twice when touching near 68800, this does not affect my view that this round of long positions can touch the level of 69300. If it breaks effectively, we will look at around 70000, specifically around 70500. Once this position is reached, we will clear all long positions and exit without further speculation.
The specific strategy is as follows:
Enter long positions at $BTC 67200, with a stop loss at 66600 (be cautious of price spikes) and continue to target 68300-69300-70500 (reduce positions upon reaching any target).
Note: For long positions at 67000 that are reduced, set a breakeven stop loss (the stop loss for this long position at 66600 is just to guard against price spikes. Normally, if it declines, the probability is high that 67200 will get a rebound. If it effectively breaks below 67200 and stabilizes, it may touch the level of 668-666, or even lower. We must try to protect the profit of each position. We cannot control market fluctuations; what we can do is protect the profit of each position before speculating again.)
