Coin Circle Jinrui 7.2: Buying is strengthened and selling is stable. Beware of the double top short pattern

Only when the mind is as calm as water can one be vigorous. Investing is only for making money. Everything else is false. Making money is the kingly way. Hello everyone, I am Coin Circle Jinrui!

Compared with last week, the buying pressure of BTC order book is increasing. And the selling is also stable in the near future, so there may also be a range market.

From the order book, there are more buying orders around $62,000 to $62,800, and more selling orders around $63,000 to $63,700.

[BTC 4-hour chart]

At the 4-hour level, because yesterday was a continuous small fluctuation. So according to the Dow Theory, it is still in an upward trend, but we need to be wary of similar actions of small double tops.

The ideal goal is to buy on a pullback with the 4-hour 25EMA as the support level. In addition, Jinrui also expects the 25EMA to form a golden cross with other EMAs.

After multiple attempts above the parallel channel, the 25EMA is regarded as the "support-resistance exchange zone", so the entry at the 4-hour chart level should wait for the retracement of the 25EMA.

So you can buy long after the 4-hour 25EMA retracement, and make a long position layout after breaking through the reversal above the channel.

These are two more suitable entry points.

[BTC 1-hour chart]

At the 1-hour level, you need to be wary of the double top pattern, because this is a chart pattern that suggests a decline.

In the case of negating the double top, you can make a short-term long position layout in the $62,300-62,200 area, because this area is the neckline and also acts as a support and resistance price on the 1-hour chart.

Therefore, as long as you don't fall below this area, you can buy on dips.

In the case of confirming the double top, there is usually a decline of the same magnitude, so it is expected to fall by about 1.8%, that is, around $61,200.

~ July 2 ultra-short-term entry point ~

① Long around $61,200 Stop loss price: $60,700 Target price: $62,000~$62,400

② Long around $60,600 Stop loss price: $60,100 Target price: $61,200~$61,900

③ Long around $62,300~$62,200 Stop loss price: $61,800 Target price: $63,000~$63,600

If you want to get real-time information later, please like & forward to tell me 🙌🏻. If this is helpful to you, I hope you like ❤️ and follow, looking forward to your support.