Cryptocurrency trading is a long-term plan, not something that can be achieved overnight, so one should not be overly anxious. Even if there are losses in the short term, there is nothing to fear. As long as the subsequent direction is chosen correctly, what has passed will eventually return. However, it is important to grasp the timing of trades and the current market trends to increase the winning rate. At the same time, investing is also a process of growth. A7 advises all cryptocurrency friends to learn while operating, and to summarize their profits and losses in a timely manner, deepening their understanding of risks and planning the correct mindset, so that they can reasonably avoid risks and become qualified investors.

11.7 Bitcoin $BTC (BTC) Market Analysis Reference

This month, Bitcoin has accumulated a rise of nearly ten thousand, breaking the historical high again this year. Compared to last year, Bitcoin has more than tripled. This wave of Bitcoin rebound is undoubtedly benefited from the optimistic sentiment in the financial market and the stimulus bill for the U.S. presidential election.

Yesterday, Bitcoin's price continued to reach new highs, breaking through the 76000 line, with high positions approaching 76400 facing pressure and retreating. The price has shown significant fluctuations, and the market is now entering a consolidation phase after being blocked at high levels. As the upward momentum during the day weakens again, the price slightly retraces, currently running at the 75000 line, with the overall trend leaning towards volatility, so aggressive trading is not recommended for the day. In the short term, maintaining high short positions and low long positions is sufficient.

From the four-hour chart, after being pressured at the new high position of 76400, the short-term trend enters a high-level consolidation rhythm. However, the price has not further broken through the resistance at 76400, and the subsequent bullish supply has shown signs of insufficiency. If the trend cannot break out for a long time, the price is expected to continue consolidating at high levels. The overall trend direction of Bitcoin remains unchanged, but after the new high, the price has not undergone a significant correction. The market is expected to continue fluctuating upwards, and since the market is currently in a phase of retracement and consolidation, it is not recommended for friends trading spot to enter at the current price. It is advisable to wait for a significant correction before considering it. For those trading contracts, the current situation is a volatile market, and everyone can operate with high short and low long positions.