Cryptocurrency Scholar: The Life and Death Test of the Bitcoin Golden Ratio Line on 10.22! Will it explode or crash in the short term?

The current price of Bitcoin is 67,400. It is now 12:35 PM Beijing time. The daily K-line had a maximum of 69,520 and a minimum of 66,840 yesterday. After opening low at 8 AM today, the daily K-line fell further to 66,570, which is above the golden ratio support point of 0.618 at 66,500 that I mentioned yesterday. This point serves as a new test for the exchange of bullish and bearish trends; the main force's grasp of human nature is almost perfect. After the stop-loss for the short position at 69,500, it immediately started to wash out the bulls, demonstrating a perfect back-and-forth wash of both sides. Before this, it’s better not to operate; in a rapidly rising or falling market, stay on the sidelines and wait for clear signals before entering.

The daily K-line has already retested above the EMA15 trend support point at 66,100. It is not far away, indicating that there is still a possibility of a pullback in the short term. The MACD volume is decreasing, and the DIF and DEA are contracting at a high level. The top divergence remains, and the Bollinger Bands are opening upward. The upper resistance level has reached 70,500, while the middle support point is still at 64,500. The KDJ has formed a death cross, and the overall trend indicates that bears are starting to gain strength.

The four-hour K-line has returned to the EMA trend indicator, standing above the EMA60 support point at 66,700. The MACD has ended the divergence trend and is beginning to decrease in volume. The DIF and DEA are starting to approach the 0-axis. If the bulls cannot regain strength and the DIF falls below the 0-axis, a new round of competition will begin. The Bollinger Bands have already shown signs of opening downward, along with the K-line having fallen below the four-hour Bollinger Band's lower track at 67,220. The regulatory resistance point to watch is 68,200. It is advised to continue testing short positions at high resistance points, but the bullish trend has not yet been broken, so it’s important to be prepared on both sides. If the key support does not break, the long position can also be tested. Safety first; be sure to take precautions.

Short-term strategy reference: The market is not 100% certain, so always set stop-losses. Safety first; the goal is to minimize losses while maximizing profits.

For the upper range, short from 68,000 to 68,300, with a stop loss of 300 points and a target of 67,500 to 67,000. If it breaks, target 66,500.

For the lower range, long from 66,000 to 66,300, with a stop loss of 300 points and a target of 67,000 to 67,500. If it breaks, target 68,000.

I am a cryptocurrency scholar, a warrior who has always been protecting the retail investors. I wish my fans achieve financial freedom in 2024. Let’s work hard together! #BTC #比特币合约 #BTC合约 #BTC☀ #BTC走势预测