Market Analysis
Today is Friday, and Bitcoin is currently in a volatile downward trend. On the daily chart, Bitcoin closed with a cross star and began to fall. Both short-term and daily technical indicators show that market sentiment is biased towards the short side. Next, let's analyze the technical situation of each time frame in depth.
Daily chart analysis
At the daily level, Bitcoin closed with a cross star, showing signs of market hesitation and turning. The daily support level is recommended to focus on around 62,800 points. If the price falls below this support level, it may trigger a larger correction. Overall, market sentiment is bearish and investors need to operate with caution.
Four-hour chart analysis
On the four-hour chart, the price of Bitcoin has entered a downward channel and has formed an obvious upward pressure at the 64,500 point line. The support below is around 62,300 points. It is expected that the subsequent price will maintain fluctuations within this 2,000-point space. The four-hour chart shows that the price may fluctuate back and forth in this range in the short term, and investors need to pay attention to the changes in key support and resistance levels.
One hour chart analysis
On the one-hour chart, the Bollinger Bands opened down, and the price was also gradually falling. In the short term, Bitcoin needs some time to stop falling and stabilize. Pay attention to the support level near 62,500 points. If the price can get support at this position, there may be a short-term rebound opportunity.
Recommendations
Short-term operation strategy:
Robust strategy:
If the price gets support near 62,800 points, you can consider gradually deploying long orders, targeting the upward pressure level near 64,500 points.
Strictly set the stop loss below 62,300 points to control risks.
Aggressive Strategy:
If the price rebounds to the 64,500 point line and cannot break through, you can consider short-term shorting with the target around 62,800 points.
Open long positions in batches around 62,300 points, with the target at 64,500 points, and set the stop loss below 62,000 points.
K-line is king, trend is king. We have been focusing on BTC and ETH spot contracts for many years. There is no 100% method, only 100% following the trend. If you are stuck, you can read the articles on the homepage to find the blogger, and get out of the trap professionally! If you can't grasp the market, you can get the precise position every day in the community!
