Cryptocurrency Scholar: On June 24, the main force of Bitcoin jumped back and forth around the 100,000 mark, with upgraded main force tactics! Latest market analysis and reference suggestions explained
Current Bitcoin price is 102,400, it is currently 1:30 AM Beijing time. The southbound strategy given in yesterday's article at 102,000 is effective; everyone can review it. Following the trend only requires identifying support and resistance levels to accurately capture entry and exit points. It is advisable to exit part of your position at the 100,000 mark and keep an eye on the previous lows. The practical details have been updated for everyone to check, and we can communicate and learn together. Currently, we are testing high levels, paying attention to key trend resistance levels. If broken, it will shift to bullish; conversely, bearish sentiment will continue.
The daily K-line reached a high of 102,600 and a low of 99,600, just retracing to the EMA90 trend support before rebounding. It has now returned to the 101,000 mark, indicating that the trend support is effective. Therefore, the next position is the trend resistance level at 102,000, which remains unchanged as a southbound entry point. MACD continues to shrink and increase downward, with bears continuously adding positions. Both DIF and DEA have fallen below the 0 axis, and the Bollinger Bands are expanding downward, with the lower band reaching 99,930. The middle band resistance level is still at 105,000, but the market is at an extremely overbought level, indicating that there is not much space below, and the opportunity for upward movement is approaching. Friends holding southbound positions should find a spot to take profits for safety.
In the four-hour K-line, we can see that the highest point just hit the southbound entry point on the long-short comparison chart in my article yesterday, which is the EMA30 trend support line. Currently, the top resistance level is consistently declining, and the support level has not changed significantly, indicating that the main force is very likely to consolidate around the 100,000 mark. The MACD bottom divergence trend has formed, and the main force shows a clear rapid pullback after a downward spike, indicating back-and-forth selling. Although the DIF and DEA golden cross has formed, it is still below the 0 axis, showing that the overall trend remains bearish. The strategy is to primarily open shorts at resistance levels, with longs as a supplement.
Short-term reference:
Southbound trial entry point 102,000 to 102,500, with a stop loss at 103,000, risking 500 points, target looking at 101,000 to 100,000, and if broken, looking at 99,000.
Northbound reference point 98,000 to 97,500, with a stop loss at 97,000, risking 500 points, target looking at 98,500 to 99,000, and if broken, looking at 100,000.
Specific operations should be based on real-time market data. For more information, you can consult the author; suggestions are for reference only and risk is self-borne. $BTC