10.8 Bitcoin Market Trend Analysis and Layout
Yesterday's article gave a direction for the sell order around 639, and the trading strategy around 630, the trend point has been accurately determined, following a direction can also collect at least some profit points. At present, the major stock market is hitting the ceiling, I wonder if the investment fund bought a few years ago can recover its capital 😂.
First, look at the daily chart, see the inverted cone candle, the upper candle shadow is longer than the candle body, showing that the sellers have begun to counterattack, today the buyers also began to resist, recovering yesterday's decline, to be able to return to the uptrend, need to see whether the 632 level can be maintained. Looking at the 4-hour chart, the fast MACD line has shown signs of decline, KDJ has long crossed, no need to look at the 1-hour chart. This recovery is an opportunity to sell.
Current BTC price is 62689, consider selling at 618 for now, protecting at 630 (maybe a little closer).
For buy orders, it is recommended to wait until around 616 to observe.
The trend is still unclear, there will be a reminder article tonight, remember to follow.
