Crypto Circle Academician: The extreme overselling of Bitcoin on June 23 means that the downward space is extremely limited, and a volatile adjustment is about to arrive! Latest market analysis and reference suggestions explained
The current price of Bitcoin is 99,700. It is now 1:30 AM Beijing time. On the 11th, I said it could go south at 110,000, but you didn't listen. On the 16th, I said it could go south above 107,500, and you still didn't listen. Then on the 20th, I said it could go south at 106,000 and you still didn't listen. There's nothing I can do now; the southward movement is about to reach the golden ratio 0.618 support near the bottom. At this time, you need to consider heading north. Are your chips still in? Remember, the fundamental of trading is survival, and profit comes second.
The daily K-line reached a high of 103,400 and a low of 98,700, having broken through the EMA60 and 90 trend lines. Focus on the golden ratio 0.618 and EMA120 trend support points in the 98,000 to 97,600 range. If this position does not break, consider the idea of going south and then north. Set the stop loss below the golden ratio. The continuous decrease in MACD volume and increase in positions has caused DIF and DEA to fall below the 0 axis. The lower track of the Bollinger Bands at 100,150 has been lost, and the market has entered an extreme overselling zone, indicating limited downward space and a need for a pullback. Having already captured 10,000 points by going south, one can choose to go north now.
After the four-hour K-line broke below the 100,000 mark, it rapidly fell over 1,000 points. MACD volume decreased and positions increased, with the bearish trend continuing. DIF and DEA are expanding downward below the 0 axis, and the lower track of the Bollinger Bands has been lost at 99,800. The K-line has temporarily exited the Bollinger Bands channel, and the lower track will continue to expand downward, guiding the K-line back into the channel. Pay attention to the resistance level at the Bollinger Bands middle track, which is at 103,000. The market has entered an extreme overselling pullback demand, and if the top resistance level does not break, consider going north to take profits.
Short-term reference: The market is not 100% certain, so always set a stop loss. Safety first; small losses and big gains are the goal.
Southward testing point 102,000 to 102,500, with a defense at 103,000, stop loss 500 points, target 101,000 to 100,000, break point looks at 99,000.
Northward reference point 98,000 to 97,500, with a defense at 97,000, stop loss 500 points, target 98,500 to 99,000, break point looks at 100,000.
Specific operations should be based on real-time market data. For more information, please consult the author. There may be a delay in article publication; suggestions are for reference only, and risks are borne by the reader.