6.11 Crypto Circle Academician: Can Bitcoin Refresh Historical Highs Again? Latest Market Analysis Reference
The current price of Bitcoin is 108800, and it is now 1:30 AM Beijing time. After stopping loss at 106500 yesterday, it has been climbing north. Many friends who like to short have messaged asking if they can short near 107000 or 108000, all of which I have advised against. It's best not to chase highs and definitely not to short; the biggest taboo in trading is chasing rises and killing dips. At this time, trading is likely driven by inner greed and desire, making it easy to become market fodder. Also, friends who don't use stop losses and like to hold their positions are now silent. Fortunately, we are still here and still alive.
Before the release, the daily K-line peaked at 110300 and bottomed at 108300. A significant divergence at the top has produced a golden cross. The price is again near historical highs. The best advice now is to preserve the chips in hand to survive, or wait for a pullback to support levels to continue north. The first trend support at MEA15 is 106300, which can be monitored. The MACD is shrinking, and as long as the K-line returns to 110000, the DIF and DEA will form a golden cross. The K-line is currently blocked by the upper Bollinger Band resistance level of 111500. If it pulls back, attention should be paid to the middle Bollinger Band at 106700; as long as it does not break the middle band, it can be considered to go north.
The four-hour K-line started to pull back after hitting 110000. Focus on the first support at EMA15, which is 108000, and the second support at 1067000. The MACD continues to show a descending volume. The DIF and DEA are contracting at high levels, indicating a demand for short-term pullback. The upper Bollinger Band has reached 110500. According to the current trend, the market this week has basically reached a critical point; what remains is high-level consolidation. The first wave of pullback and stretching has occurred; all that remains is the second wave of pullback and stretching plus liquidation. Therefore, this time the entry point for going south is not at 110000, but rather to find opportunities after breaking the historical high. In the short term, the strategy is to focus on pulling back to support, and it is not recommended to hold positions for too long. Don't be greedy for profit space.
Short-term reference:
Going north entry point from 107500 to 107000, defense at 106500, stop loss 500 points, target looking at 108500 to 109000, breaking point at 109500.
Going south reference point from 115000 to 112000, defense at 112500, stop loss 500 points, target looking at 1110000 to 108500, breaking point at 107500.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article release; suggestions are for reference only, and risk is borne by oneself.