Coin Circle Jinrui 7.9: Technical Chart Analysis Double Bottom Pattern and Neckline Short-term Strategy

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At present, Jinrui believes that it is very important to maintain "60,000 US dollars" this week, and Jinrui will continue to pay attention.

And the inflow of ETFs is also gradually recovering

[BTC Daily Chart]

At the daily level, Jinrui's previous target has not changed. Since the 200EMA is support, it depends on whether it can break through here.

Because Jinrui expects a death cross trend near the 25EMA, the coin price may try to form such a trend near US$52,800 to US$51,000.

The 200EMA on the daily level is still a key point, and it is possible that a double bottom pattern is forming. But it is currently running below the EMA, and the resistance above is large, so Jinrui expects it to fall further.

【BTC 4-hour chart】

At the 4-hour level, it is currently in the long position expected by the double bottom, but the overall trend is still downward.

In addition, it is currently subject to resistance from the 25EMA, so short positions must be held. If you go long, you need to wait for the neckline (around $58,500) to break through before entering the market.

On the 4-hour level, short positions supported by the 25EMA are worth holding, and it is also necessary to pay attention to whether a double bottom pattern will be formed.

【BTC 1-hour chart】

At the 1-hour level, due to the large resistance above. Therefore, Jin Ruijian can subdivide the profit points.

~ July 9 ultra-short-term entry point ~

① Go long after breaking through $56,800 Target price: $57,800~$58,300 Stop loss price: $56,300

② Go short near $58,300, and give up if the upward momentum is strong. Target price: $57,800~$57,000 Stop loss price: $58,800

③Buy in batches at $55,000~$54,300 Target price: See $600~$1,000 profit Stop loss price: $53,500, before the stop loss is broken, you can remain bullish

At present, Jinrui believes that the short-term adjustment has ended, and the market will not rise unless the market falls again.

Jinrui also sees that there are various opinions circulating in the market, but the most important thing at present is to face the "now" chart.

No one can predict the future. All we can do is face the chart and gradually accumulate profits.