Coin Circle Jinrui 6.30: Turning point next week, key support of $58K and $56.4K
Only when the heart is as calm as water can you have a long-term vision. Investing is only for making money. Everything else is empty. Making money is the kingly way. Hello everyone, I am Coin Circle Jinrui!
[Current important fundamentals]
Solana (SOL) ETF application status US election (Trump vs Biden) If Trump is elected, it may have a positive impact on the entire cryptocurrency market. Good for the entire cryptocurrency market? If Biden is elected, it is almost impossible to achieve. The impact of the expectation and time of US interest rate cuts on risky assets due to falling inflation. Please pay attention to these three points
[BTC daily chart]
The blue area of $58,000 to $57,000 is currently very important, which is also the neckline of the double top. If it clearly falls below this area, it is necessary to be wary of a drop of more than $1,500.
If Bitcoin can maintain its current price, then Jinrui expects a rise to fill the 25EMA deviation.
The 25EMA will be tested later to see if it can break through. If a double bottom-like upward pattern is formed, Jinrui expects Bitcoin to rise to $70,000.
If a large double top pattern is formed on the daily chart, it is necessary to be wary of the previous decline of $60,000.
It is also a strategy to arrange mid-term long orders near $58,000 and $56,400 (recent lows).
Because there are a lot of buy orders near $59,000.
[BTC 4-hour chart]
Currently, the red trend line is acting as resistance, so it is beneficial to short before the price breaks through. The 25EMA, the red trend line and the red area (close to the 50EMA) are three important points of attention.
First, it depends on whether the upper resistance range can be broken. If the double top pattern is denied and rises. There is a high probability of a large increase afterwards, so this is also worth Jinrui's attention.
[1-hour chart]
~ Ultra-short-term entry point on June 30~
If it falls below $60,600, you can short it. Stop loss price: $61,000 Target price: $60,000~$59,000
Long position around $61,000-61,200 Stop loss price: $60,800 Target price: $62,000
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