Crypto Circle Scholar: The Bitcoin Bull Trend is Not Dead as of July 19! Key Levels Here! How to Seize the Opportunity for a Second Downturn? Latest Market Analysis and Reference Suggestions Explained
The current price of Bitcoin is 117,850, and it is now 2 AM Beijing time. After stretching past 120,000, it has started to decline again, reaching a low of 117,000, which gives a space of 3,000 points. How many did crypto friends seize? Originally, three opportunities for a downturn were prepared, but only one was sufficient. However, do not exit all at once; exit in batches to avoid missing out on explosive market trends. The opportunity for an upward trend has not yet arrived; wait until the main force falls below 116,000 before considering whether to enter.
Before publishing, the daily candlestick had a maximum of 120,850 and a minimum of 117,300. The EMA15 trend fast line support has reached 115,000 and is continuing to stretch. The bullish trend has not ended. Under these circumstances, one can wait for a pullback to key support before entering the upward trend. MACD shows a divergence at the top with a decrease in volume, and the main force is cashing out at high positions. DIF and DEA are contracting at high levels, and the upper Bollinger band has not finished stretching upwards, reaching around 123,000. The middle band has risen to 113,000, and overall, the bullish trend is dominant.
The four-hour candlestick has fallen back from overbought conditions, breaking below the EMA30 trend first at 118,200. The next support level to pay attention to is the EMA60 at 116,500. MACD shows a divergence at the top with a decrease in volume, indicating a short-term bearish trend, but the long-term trend remains bullish. Therefore, one should watch for larger moves in smaller positions, waiting for effective support at lower levels to dominate. Pay attention to the lower Bollinger band support at 116,500. For those not yet entered, it is best to remain out for now and consider the situation above 120,000 for a potential downturn.
Short-term reference: The market is not 100%, so always set stop-losses; safety first, small losses, and big profits are the goal.
For the downturn, the trial entry point is between 121,000 and 122,000. If the position breaks, defend at 123,000 with a stop-loss of 300 points. The target looks at 120,000 to 119,000, and if broken, consider 118,000 to 117,000.
For the upward reference point, it is between 116,000 and 115,500. If the position breaks, defend at 115,000 with a stop-loss of 500 points. The target looks at 118,500 to 119,500, and if broken, consider 120,000 to 121,000.
Specific operations should primarily rely on real-time market data. For more information and details, please consult the author. There may be a delay in publishing the article, and the suggestions are for reference only; risk is borne by the user. $BTC
