7.19 Bitcoin goes as planned! The current thinking must keep up!
Bitcoin's daily line yesterday continued to close with a negative line. The entity is not very large and is a small cross star K line. We saw yesterday that the price of Bitcoin came to the upper rail position of the daily Bollinger Band and encountered resistance. Then we began to design the idea of Bitcoin's callback.
Then we directly observe from the Bollinger Band. It is certain that the first point of Bitcoin's callback is the position of the Bollinger Band middle rail from the daily line. Of course, we also expect a more radical callback. According to the closing of the daily line yesterday, I think that if Bitcoin is currently callback, it should be a relatively slow callback, and it will slowly come to the position of the Bollinger Band middle rail.
The current Bollinger Band middle rail is a turning upward trend. In the process of Bitcoin's slow callback, the daily Bollinger Band middle rail will also slowly rise until they meet, which happens to be a trend of stepping back. At that time, find an opportunity to step back and do more. I currently think this is a very good deal.
And today is Friday. It is very unlikely that there will be a particularly large market in the next two days of the weekend, so it is likely to be a trend of oscillation and callback. Therefore, according to the current situation, according to the technical analysis and the time cycle, the probability of such a trend is relatively high.
Of course, we are now observing the market at the daily level. This trend and this trading idea need to be patiently waited for. It may not happen until next week. Now we need to wait for the market to happen. It may change in the middle. At that time, we will have to re-analyze it.
Then we look at the current one-hour level. As shown in the figure, I think the current market now has a head and shoulders top pattern at the top of the short-term. The current price trend has fallen below the neckline, but the current price has not started to fall. After breaking the neckline, the price began to fluctuate sideways, but I think the current short-term trend is still a head and shoulders top downward trend.
This also coincides with the trend of oscillation and decline callback ideas we expected at the daily level!
