Technical analysis and trading strategy of BTC 1-hour chart on June 10
1. Wave theory analysis On the 1-hour chart, we can see some clear fluctuations and trends: Big trend analysis: Starting point of wave A: at a high of about $71,100 in the figure. End point of wave A: at about US$68,300 (down). Wave B rebound: at about $69,988.6 (rebound high). Next, according to the wave theory, we may see a downward wave C: Fibonacci Expansion Wave A length: 71100 - 68300 = $2800 100% expansion level: 68300 - 2800 = 65500 USD 138.2% extension: 68300 - (2800 * 1.382) ≈ 64460 USD
The chart shows multiple moving averages. It can be seen that after the recent decline in BTC prices, it rebounded at an important support level. Multiple moving averages began to hover around the price, especially the short-term moving average (green line), which showed a slight rebound trend. The long-term moving average (orange line) and the medium-term moving average (cyan line) are basically located near 69,000, indicating that there is a certain support force at this point. Support and resistance: The current support area is around $69,133.5 (green area) and the lower $68,140.5. The resistance area is around $69,365.5 (red area) and the higher $72,223. CCI indicator: At the 30-minute level, the CCI indicator shows multiple highs and lows. At this time, the data is near zero, indicating that the market currently has no clear trend direction and is waiting for further signal confirmation. Divergence Indicator: The recent bullish (Bull) and bearish (Bear) signals have alternated many times, showing a certain market volatility. These signals remind us that there is a risk of price fluctuations in the short term. Analysis and suggestions In the 30-minute technical analysis: Short-term trend forecast: If the BTC price can effectively break through the resistance level of $69,365.5, it is possible to continue to rise and challenge the resistance range above $70,000. If the price continues to be under pressure and falls below the support level of $69,133.5, it may further fall to the support area of $68,140.5. Trading strategy: Long strategy: When the price breaks through $69,365.5 and confirms that it is stable, consider entering a long order in moderation. The target can be set above $70,000, and a stop loss can be set near $69,133.5. Short strategy: Enter a short order when the price breaks through and confirms that it cannot stand at $69,133.5. The target can be set near $68,140.5, and the stop loss can be set near $69,365.5. Risk management: Whether taking a long or short strategy, it is recommended to keep the position within a reasonable range, always pay attention to market dynamics, and set stop loss and take profit to protect the safety of funds.
Moving Averages: The price is currently trading above the long-term moving average, indicating that the overall trend is still up. However, there may be some pullback pressure in the short term. Support and resistance: The obvious resistance area is at $71488.82 (red area). If the BTC price touches this area, there may be a large selling pressure. At the same time, the strong support area is at $67273.67 and $62488.71 (green area). CCI indicator: The current CCI indicator is close to zero, but the previous CCI highs and lows show some obvious market volatility signals.
According to Gann's Time Law, the Gann turning point days in June 2024 can be predicted by analyzing market data and using Gann's time cycle tools. These turning point days are determined based on the time cycles in Gann theory, and they represent dates when market trend changes may occur. From the information I found, June 5 and June 7, 2024 are considered important time windows1. On these days, the market may experience price fluctuations or trend shifts, so they are considered turning point days. These dates are based on Gann theory calculations and market historical data analysis. It's going to be a waterfall #crash
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If you want to make money in the cryptocurrency circle, please read the following 7 points
1. Market sentiment and investment decisions: You realize that the fluctuation of market sentiment has a significant impact on the price of cryptocurrencies. You have learned to stay calm in the highs of bull markets and the lows of bear markets, and observe the market through a third-party perspective to make buy and sell decisions without emotional fluctuations.
2. Learn from experience: After experiencing several market cycles, you have learned how to choose the right investment targets, judge market conditions, distinguish between real hot spots and false information, and understand new market narratives.
3. Evolution of investment strategy: From your initial blind optimism, to experiencing the pain of the bear market, and then learning to find opportunities at the bottom of the market, your investment strategy has gradually matured. You have learned to sell when the crowd is bustling and buy when the market is sluggish.
4. Technology and market knowledge: Through continuous learning and practice, you have mastered the deep knowledge of blockchain technology, such as inscriptions, second-layer solutions, and GameFi, which have provided you with a deeper understanding of the market.
5. Asset allocation: You realize that investors with larger funds should accumulate mainstream assets such as Bitcoin and Ethereum, while paying attention to new market narratives. Investors with less capital should accumulate capital by participating in new projects and taking advantage of airdrops.
6. Understanding of market cycles: You realize that patience and persistence are required at both the peak and the bottom of the market. You learn to change positions in a bear market and transfer funds to assets with potential.
7. Realization of wealth: After a long period of hard work and learning, you finally achieve wealth growth. The eight-digit assets shown in your account prove your success and make you feel that if someone had guided you earlier, you might have taken fewer detours. Remember that the market is always full of uncertainty, so continuous learning and adapting to changes are the key to success. I wish you a happy investment! #比特币减半 #大盘走势
1. The U.S. stock market sentiment index (fear index) has dropped to 36, showing panic in the market, which is usually a rare low level in a bull market. 2. The USDT market value has continued to rise steadily in the past two weeks, indicating that funds may enter the market at any time. 3. The Bitcoin halving event is expected to occur in 23 hours, and I don’t think the market will "sell the news". 4. The funding rate has turned negative again, which may prompt short positions to become the fuel that drives the market up. 5. On-chain data shows that there is no abnormality in the activities of whales and large households, and the LLD indicator has returned to its previous high level. 6. The valuation of U.S. stocks has reached the previous high pressure level of 0.93, and it is expected that it may bottom out in the next 5 days. According to the analysis of current market dynamics, the price of Bitcoin may fluctuate in the range of 62K to 67K US dollars. After waiting for the U.S. stock market to stop falling and stabilize, there may be further upward momentum. #BTC🔥🔥🔥🔥🔥🔥的最重要的图表 #BTC趋势预估 #BTC💰智能多空策略