Crypto Circle Scholar: The 'Prisoner's Dilemma' of Bitcoin on July 21 and the 'Divergence Discrimination Method' – Is it Faith or a Bubble? Latest Market Analysis and Reference Suggestions
Current Bitcoin price is 118,500, and it is now 1 AM Beijing time. Bitcoin has already hit the first target of 118,800. Remember to set a stop-loss for defense. It has just reached the pressure point at the top of the ascending triangle. If the key pressure point is broken, do not hold. If the target does not break, refer to the trend support in the range of 117,000 to 115,600. This is the current thought process of the cryptocurrency enthusiasts who have already entered the market. Let’s take a look at the current order book.
First, the highest point before this article was published was 118,856, and the lowest was 117,650. The market shows signs of a top divergence, and there is a high probability that the main force will attempt to push the price higher for unloading. Therefore, in this trend, one can try a position on the high side. The EMA15 trend fast line has already reached the horizontal support at 116,000. Not looking too far ahead, there is still a few thousand points of space to capture. The MACD top divergence has significantly reduced the volume, and the DIF and DEA are contracting at a high level. The upper Bollinger Band has reached 123,650, while the middle band is at 114,000. The high-level sideways movement continues, and be prepared to move south for now, not considering a move north.
In the four-hour K-line, the fifth wave has already approached the top pressure point. The EMA trend indicator is beginning to gather at the triangle mouth. The MACD volume is decreasing, and just as the DIF and DEA fell below the 0 axis, they are attempting to contract again, forming a golden cross trend. The Bollinger Band is continuing in an extreme sideways manner. The K-line has stretched from the lower band at 117,000, breaking the middle band and focusing on the upper band pressure point of 120,000. The thought process is to try positions back and forth within the Bollinger Band range, ensuring good risk management; small losses with large gains are the goal.
Short-term reference: The market is not 100% certain, so you must set a good stop-loss. Safety first; small losses with large gains are the target.
For southward position testing, the entry point is between 119,500 and 120,000. If it breaks, defend at 120,500, with a stop-loss of 500 points. The target looks at 118,500 to 117,500, and if it breaks, look at 117,000 to 116,500.
For northward reference, the entry point is between 117,500 and 117,000. If it breaks, defend at 116,500, with a stop-loss of 500 points. The target looks at 118,500 to 119,500, and if it breaks, look at 120,000 to 121,000.
Specific operations should be based on real-time data from the order book. For more detailed information, you can consult the author. The publication of the article has a delay, and the suggestions are for reference only; risk is borne by the individual.
