Crypto Circle Academician: The fifth wave of Bitcoin on July 20 is about to peak, can it break through the 120,000 barrier? Latest market analysis and reference suggestions.

Current Bitcoin price is 118,000, it is currently 1:30 AM Beijing time. The sideways fluctuation trend has become very obvious, and it has not dropped to 116,000, pulling back at 117,000. The short-term level has entered a triangular convergence stage, and the trend at the triangle mouth looks very good. I won’t elaborate too much here; those who like to trade short-term stable moves can take advantage of this 2,000-3,000 point fluctuation. For trend trades, it's better not to chase; everyone should try to trade within their understanding for more stability.

Before the publication, the daily candlestick chart showed a maximum of 118,500 and a minimum of 117,600, with fluctuations not exceeding 1,000 points. High-level consolidation will lead to rapid upward support at the bottom, especially since the EMA15 fast line trend has reached around 116,000. Most major trend indicators have now broken the golden ratio line of 0.618, which means that if the main force wants to short later, they will have to face strong support at 105,000, which is the medium to long-term support level. MACD top divergence is expanding, and DIF and DEA are contracting at a high level. The idea is to wait for a pullback below the short-term support of 116,000 before considering entering. Before this, it is recommended to observe and wait for opportunities.

The four-hour candlestick is in an ascending triangle and has completed four waves. The fifth wave's peak focuses on the 120,000 integer barrier. If it doesn't break 121,000 to the south, you can hold. If it breaks, then set a stop loss and exit. If it doesn’t break, you can make a hefty profit. The continuous reduction in MACD has brought DIF and DEA to the vicinity of the 0 axis. If the short-term price cannot stay above 118,000, it will enter a downward trend. The Bollinger Bands are currently extremely contracted, with the lower support at 117,200 and the upper resistance at 120,000. Aggressive traders can start testing positions southward above 118,500, while more cautious traders should start southward around 120,000.

Short-term reference: The market is never 100% certain, so always set stop losses. Safety first, with the goal of small losses and big gains.

Southward testing position 119,500 to 120,000 break point, defense at 120,500, stop loss at 500 points, target looking at 118,500 to 117,500, break point looking at 117,000 to 116,500.

Northward reference point 116,000 to 115,500 break point, defense at 115,000, stop loss at 500 points, target looking at 118,500 to 119,500, break point looking at 120,000 to 121,000.

Suggestions are for reference only, risk is to be borne by oneself $BTC #BTC合约 #BTC走势分析