Cryptocurrency Scholar: Bitcoin Approaches Historical High Again on July 18, Entering Final Sprint! Latest Market Analysis and Reference Suggestions
The current price of Bitcoin is 118750, and it is currently 1:30 AM Beijing time. Yesterday, it was mentioned that if Bitcoin exceeds 120000, one could consider going south. The idea remains valid as long as the historical high is not broken. Above 120000, one can give themselves two to three opportunities to test the southward position. If wrong, exit with a small loss; if correct, the profit is quite objective. Remember, trading should not be driven by emotions; survival is the priority.
The daily K-line reached a maximum of 119200 and a minimum of 117450 before this report. The EMA15 trend support line has come to 114900, and the Fibonacci retracement level 0.786 support is at 113000. MACD shows a top divergence, and the current positions of DIF and DEA indicate that the bullish trend still holds a certain advantage. There is a high probability that the main force will test the upper resistance level of the Bollinger Band at 122150. There is a space of 2000 points from 120000 to 122000, so testing the southward position in this range should ideally be done in two attempts for safety.
The four-hour K-line has formed a rising triangle contraction trend. Whether it will form an early head and shoulders pattern is still unknown; we will see if the main force can break the EMA60 trend support at 116000. The top divergence trend has persisted for some time, with DIF and DEA near the 0 axis. Coupled with reduced volume and the contraction of the Bollinger Band, the upper resistance level has reached 120500 and the lower support level has dropped to 116000. The entry points for going south and north have already been found and can be waited upon until the main force arrives before entering.
Short-term reference: The market is never 100% certain, so always ensure proper stop-loss measures; safety is the first priority. Small losses and big profits are the goal.
Southward testing point is between 121000 to 122000, with a stop-loss at 123000 and a stop-loss of 300 points. The target is 120000 to 119000, and if broken, look at 118000 to 117000.
Northward reference point is from 116000 to 115500, with a stop-loss at 115000 and a stop-loss of 500 points. The target is 118500 to 119500, and if broken, look at 120000 to 121000.
Specific operations should be based on real-time market data. For more detailed information, you can consult the author. There may be delays in article release; suggestions are for reference only, and risks are to be borne by oneself. $BTC