Coin Circle Jinrui 7.1: Has 59K bottomed out? EMA is looking for buying opportunities

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Since $59,000 is a solid bottom, there is no need to be pessimistic about this market at this stage.

However, it has not yet fully entered the upward trend, so please be sure to set take profit and stop loss to control the risk for trading.

[BTC 4-hour chart]

4-hour chart strategy: buy on dips

If the long position is mainly supported by the 4-hour 25EMA, it is possible to continue to rise without a deep correction. Although the pattern is slightly incomplete, it can be regarded as a double bottom pattern forming the bottom. It is expected that as long as it does not fall below $59,000, it will continue to rise in the future.

The last time it started to rise sharply from the 25EMA of the 4-hour chart, so if you want to open a new position, the best way is to buy long positions with 25EMA as support.

In addition, the area around $62,300 (red area) can also be regarded as the neckline of the double top pattern, so you can also consider buying on a pullback here.

If the 25EMA and 50EMA form a golden cross pattern, the bullish trend still has the upper hand.

[BTC 1-hour chart]

The 1-hour chart breaks through the range pressure (blue area), so the strategy is also mainly to buy on dips.

~ Ultra-short-term entry point on June 30 ~

Go long when it pulls back to around $62,300-62,400 Target: $63,000~$63,700 Stop loss: $61,800

Go long with the 25EMA and 200EMA of the 1-hour chart as support, and the long price is $62,000. Target: $62,800~$63200 Stop loss: $61,600

If the current coin price stabilizes, there may not be a deep pullback. Instead, it continues to rise, so special attention is needed.

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