7.12 Saturday Bitcoin: Stalemate at High Position! Is the Weekend Volatility Show About to Begin?
Bitcoin has basically been idling from last night to this morning, with very little movement! It tried to dip down to around 11600, but was pushed back up, reaching a high of 118100. In this state, it's clearly just hanging around at a high position, caught in a dilemma!
Looking at the four-hour chart, although the overall trend line is still upward, the momentum to push higher has noticeably weakened. The candlestick chart shows alternating red and green, indicating that both bulls and bears are fiercely contesting this position, unlike the previous one-sided upward movement. However, the key point is that the price is still hovering in the previously mentioned slow ascending channel, without breaking out! Coupled with the fact that the market is usually sluggish on weekends, my personal judgment is that today is likely to oscillate back and forth within this range.
So my thoughts are clear: don’t expect any massive ups or downs, just stay within the range of 118000-116000! Consider shorting when approaching the resistance level above, and look for buying opportunities near the support level below. Be flexible, don’t hold on stubbornly!
Here comes the key point! BTC has already broken through the previous high, and now we can look for some strong coins to invest in. I have already listed my bottom-fishing candidates! Expecting 5-8 times returns, if you want to get rich quick, brothers/sisters, like and leave a comment, let me see you!
