☀️Morning Analysis on 7.18: BTC Trend Rising, Opportunities Hidden!
This morning, looking at the BTC/USDT market, the trend is quite eye-catching! Starting from a low of 119371.60, it has risen all the way up, reaching a high of 120484.73, and the current price is fluctuating around 120269.44. Let's quickly analyze it:
Market Analysis
Trend: The short-term moving averages are in a bullish arrangement, and the price is steadily rising along the moving averages, showing strong bullish momentum. Although there was a slight pullback in between, it did not effectively break through the key support, and the overall upward trend remains good.
Volume: During the rise, the trading volume has shown a gradual increase, indicating that market participation is on the rise, with new bullish funds continuously entering the market to drive the price up, providing strong support for this wave of rise.
Trading Suggestions
Spot Investors: If you are a long-term bull on BTC, under the current upward trend, as long as the price does not fall below the key support level of 119500, you can continue to hold with peace of mind and enjoy the benefits of long-term appreciation.
Contract Traders: Aggressive players can go long with a light position when the price pulls back to around 120000 and stabilizes, setting a stop loss below 119800, targeting 120800 - 121200; conservative players can wait for the price to effectively break through 120484.73 before following the trend to go long, while setting a stop loss to control risk.
Risk Warning
The cryptocurrency market is known for its volatility, and BTC can easily be affected by multiple factors such as the macroeconomic environment, policy news, and market sentiment. Everyone must strictly control their positions during trading, set stop losses and take profits, and avoid blindly chasing prices. Continuously monitor market dynamics and flexibly adjust trading strategies to steadily move forward in this market full of opportunities and challenges.
