Coin Circle Jinrui 7.20: Bulls gain 2,800 points, interpreting the necessary factors for continued rise

Only when the mind is as calm as water can one be full of vigor and vitality. Investing is only for making money, everything else is false, making money is the kingly way. Hello everyone, I am Coin Circle Jinrui!

Reviewing Jinrui's two trading plans yesterday, the short-term short orders in the range of 63,800 to 64,100 US dollars made a profit of 800 points yesterday afternoon. The short-term long orders near 63,500 US dollars made a profit of 2,000 points in the early morning. In summary, Jinrui's trading strategy yesterday made a total profit of 2,800 points!

Yesterday, Bitcoin rose 3,000 points in 4 hours, and the real bull market was formed by "main investors".

At present, the trading volume of main investors has not changed, so if the main investors actively buy in the later period, further increases can be expected.

Events that may become factors for the rise next week:

U.S. election: If Trump prevails, coupled with the increase in trading volume of main investments, and the start of Ethereum ETF trading.

At present, there are a lot of liquidations around $67,000 to $66,800, so it may fall in the short term. Jinrui recommends that everyone needs to be vigilant about this.

[BTC 4-hour chart]

If the Fibonacci retracement line is drawn from yesterday's sharp rise and low point at the 4-hour level, the 4-hour 25EMA and Fibonacci 23.6% are highly overlapped.

Because it takes enough retracement to rise again, friends who do not hold positions should confirm the retracement before entering the market.

[BTC 1-hour chart]

~1-hour level short-term entry point on July 20~

① Buy long at the 25EMA support level. Since the retracement is shallow, it is recommended to hold a low leverage position. Buying price: $65,600~65,700. Stop loss price: $65,000 Target price: $67,000

② Long in the $64,000~$64,400 area Stop loss: $500 Target price: $67,000

Price fluctuations may not be large over the weekend, let's prepare for next week together this weekend. No one can predict the future, all we can do is face the chart and gradually accumulate profits.

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