11.8 Bitcoin (BTC) Market Analysis Reference and Trading Ideas
Bitcoin (BTC) Market Analysis
Overall Trend:
Bitcoin experienced a significant increase yesterday, reaching over 2000 points. Although there was a pullback after hitting a new high, the subsequent recovery was strong, and the overall upward trend has not changed. The price continued to rise in the early morning, reaching a new historical high point, and the market has now risen to the 76800 area, with a strong bullish sentiment.
Technical Analysis:
On the daily chart, the price has closed higher for three consecutive days, with support continuously moving up. The market maintains an upward trend, with all moving averages in an upward posture, and the upper track is in good condition. If the price further tests upwards and breaks through the 77000 level, the market is likely to continue its upward momentum. The overall market is returning to a new high, and the 80,000 level is just around the corner.
Trading Suggestions:
For short-term trading, it is recommended to mainly focus on long positions during pullbacks; if a breakout occurs, a light position can be taken to chase the rise. Specific long position suggestion: enter long in the 74100-74600 range, with a stop-loss at 72000 and a target towards above 75300. Specific short position suggestion: enter short in the 77000-77500 range, with a target near 76500, a stop-loss at 79200, and a 300-point stop-loss.
The article may be delayed in sending, and strategic suggestions are for reference only. The market changes rapidly; regardless of how confident one is in market judgment, it's essential to manage take-profit and stop-loss properly for safety.
The divine orders are already set and about to enter!!
Uncertainty is on board!!
Expected returns are 4-5 times!!
Repeat three times: uncertainty brings, uncertainty brings, uncertainty brings!!
