7.4 Midday Market Analysis!
When you feel anxious, take a moment to review Bitcoin's ten-year trend; when you feel confused, re-read the blockchain white paper; when you feel impulsive, force yourself to stay calm for 24 hours. Remember: the amount you invest should allow you to sleep peacefully at night, and the time you spend watching the market should be kept within a reasonable range. Your true energy should be focused on enhancing your understanding—because in the crypto world, what’s most valuable is not the numbers in your account, but the rationality and original intention you maintain after going through market trials. From morning to midday, the price of Bitcoin dropped from a high of 109963 to 108749, and the market has once again moved in line with our bearish strategy, with our short positions also successfully cashing in! In the morning, a short position was entered at 109760, with a take profit at 108777, yielding 983 points. Following the trend and grasping the direction is the core principle of our trading success.
From a technical perspective, the formation of a triple top pattern on the daily chart should have continued to rise; however, despite the bulls' sustained volume, key high points have not been effectively broken. Following the overnight market's reaction to negative news, the market has responded by dropping to the support level of 108749 and began to oscillate. Moving forward, we need to observe whether the bullish forces can effectively break through and stabilize at the 110000 mark; if they cannot effectively break through, a deep correction may occur.
Trading Suggestions
Bitcoin Strategy: Buy around 108500, Target: around 110500. Altcoin Strategy: Buy around 2520, Target: around 2620.
