Crypto Circle Academician: 6.17 Bitcoin's 'Box' Market in the Volatile Structure, Key Support Points for North-South Layout Must Be Examined! Latest Market Analysis and Reference Suggestions
Current price of Bitcoin is 107950, it is now 1:30 AM Beijing time. Friends who have not entered the market can continue to wait, while those who have entered should prepare for defense and stop-loss, safety first. The big coin is set to drop to 106500, with adjustments made at 107900. The current average price is at 107500. At 0:47, the adjusted positions have been reduced, leaving only patience to wait for the market to unfold. It cannot be ruled out that the big coin may once again challenge the momentum towards 110000. However, from a market perspective, a significant correction is needed to digest the previously absorbed chips.
The daily K-line currently shows a maximum of 107950 and a minimum of 105000. After breaking the EMA15 trend quick line at 106450, if the closing does not break the trend line, there is a high probability that today will still see a trend of oscillating upward. The pressure point of the upper Bollinger Band is exactly at the 110000 integer level, with the mid-band retracement point at 106000, and the lower band remains unchanged around 102000. The mid-term trend continues to operate within a larger box. From the overall trend, the space for the southward movement is much larger than that for the northward movement. It is advised to manage positions well and gradually move south.
The four-hour K-line U-shaped transition has stretched up to the resistance point of 108000. The EMA trend indicator is contracting and stretching upwards. Cautious traders should focus on the trend support at 106500. After an effective retest, they can try to go north. The MACD has continuously increased its volume, and the DIF and DEA are starting to challenge the 0 axis. Currently, the fast line has crossed the 0 axis, and the slow line is also gaining momentum. The K-line has broken the upper Bollinger Band at 107400, and the short-term cycle has entered an extreme overbought sequence, necessitating a correction. Friends moving south should focus on whether the 106500 support can be effectively broken before considering their position.
Short-term reference: The market is never 100% certain, so always set stop-losses. Safety first; small losses and big gains are the goal.
Southward trial entry point is 107500 to 108000, with defense at 108500, stop-loss at 500 points, target looking at 106500 to 105500, and if broken, looking at 105000.
Northward reference point is 106000 to 106500, with defense at 105500, stop-loss at 500 points, target looking at 107500 to 108000, and if broken, looking at 108500.
Specific operations are based on real-time market data. For more information, you can consult the author. There may be delays in article publication; suggestions are for reference only and risks are to be borne by yourselves. $BTC
