Yesterday, Bitcoin surged again, hitting a new high of $67,000. However, has this rally reached its peak?
Many trading plans made profits yesterday. Should we cash in or hold on? Today we will review the trading we did some time ago.
Let's look at WLD first. We reminded people to enter the market when its price was $2.1, mainly considering the pressure of unlocking. Although many people did not enter the market at this time, the coin performed strongly. In the spot trading plan, when it broke through the lifeline and stepped back to 2.60, it also reminded people of the second entry opportunity. It rose 15% yesterday. If the lifeline of the daily level can be maintained, the target is expected to reach $4.2, and the stop loss is still $4.2.
As for JTO, as a member of the SOL ecosystem, it repeatedly stepped back to the lifeline of the daily level yesterday. Because it broke through the daily lifeline due to the large volume and long-term positive on July 15, after three days of confirmation, we reminded to enter the market around 2.38 some time ago, and it rose as high as 17% yesterday.
As for the stop loss level, since it broke through the previous rectangular oscillation high point, if there is a chance to fall back to 2.65, you can consider adding to your position. If it falls below the 2.43 lifeline, stop loss and exit. The upper pressure level of 3.35 US dollars is also an important profit-taking point. Please refer to the spot version of the trading plan for details.
There is also MANTA, which has reached the lower track of the channel some time ago, and has repeatedly consolidated at the bottom. On July 17, it broke through the key position of 0.97 and stood on the daily lifeline. Although it was not firm enough when it stood on it, a cross star and a propeller appeared later, but the propeller fell back to 0.97 yesterday.
Jiuge emphasized in the spot trading plan that 0.97 is a good time to enter the market, and yesterday it rose 7.38% in profit. When it touches the lifeline again, you can consider entering the market between 0.97 and 1.0. If the closing price is below the lifeline or 0.97, stop loss.
Let's look at SOL. As the leader of the industrial chain, it has an eye-catching performance compared with Ethereum. The first wave was from the bottom of 120 US dollars to 150 US dollars. It broke through the double bottom neckline of 155 US dollars. When it fell back after the breakthrough, Jiuge reminded to enter the market at 155 US dollars. Three chances have been given. Yesterday, it closed with a 10% long positive line with volume, not only breaking through the previous rectangular high point, but also breaking through the large convergence triangle area.
The SOL token has broken through the upper track of the convergence triangle, like a wild horse running away. However, whether it can continue to rise still needs attention. The retracement cannot effectively fall below $155, otherwise this rebound may be a false rebound.
From the weekly level, it is effectively supported by the 30-week moving average position, and the MACD indicator is expected to cross above the zero axis, which may form an upward trend at the weekly level. Jiuge's view tends to continue to move towards the height of the triangle. The lower target can refer to the spot class trading plan, measuring the important suppression of US$240.
Ultimately, everything depends on the price trend of Bitcoin. If Bitcoin is unstable or stops rising, other coins may just be a flash in the pan.
In terms of Bitcoin price trends, we have repeatedly emphasized in past videos that we should pay attention to the width of its rising channel. On March 4, it rose by one channel width for the first time and broke through the key position. You can enter the market when it falls back to this position. After that, it fell back after reaching 73,777 US dollars.
At this time, the MACD indicator golden cross consolidates above the zero axis, and the high-level dead cross causes the price rise to end, and abnormal K-line patterns such as the shuttle star and inverted line appear, indicating that the chips are loosened and the main force is leaving the market, and finally it is supported by the daily level 30 lifeline.
The second rebound did not reach a new high and formed a double top. MACD did not form a golden cross and continued to slide to the 120-day moving average to stop the decline. This was the third bottom bullish divergence but the energy column shrank. The rebound after the golden cross ushered in this strong counterattack.
A channel was formed during the counterattack. The last wave of rising volume and long-term positive, or the chips were loosened and the main force left the market, and then the callback formed a dead cross above the zero axis. When it attacked 7200 US dollars for the second time, it formed a top bearish divergence again, and finally fell to 53,000 US dollars.
This time, the price of Bitcoin is only one step away from the upper track of the channel at 68,000 US dollars. This position may be a major pressure point. It is not only the previous neckline, but also the neckline of the reverse arc bottom. The key lies in 68,200 points. It is better not to break through with large volume. Large volume or a reversal K-line pattern may become a rebound high point.
Of course, we hope that there will be no high point and the market has not yet come out. We will analyze and judge at that time. Now the MACD indicator crosses the zero axis, and Bitcoin is positive. Focus on whether 68200 can rise with reduced volume.
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Focus on whether Bitcoin can break through 68,200 points to determine the trend of other tokens.
