7.17 Mr. Coin in the Coin Circle: Bitcoin (BTC) market analysis reference:
From the overall structure of Bitcoin, in the four-hour view, the overall rhythm of various indicators is still relatively strong. Although the currency price retreated during the day, it quickly rebounded to recover all the losses. The price continued to rise in the morning, but the strength was always a little bit off. The currency price did not effectively break through the weekly K middle track. It was blocked and stepped back in the area near 65400 in the morning! At present, the daily line has 5 consecutive positives, and the bullish volume below has shown obvious signs of shrinking. The three moving averages cross and turn downward and spread significantly. There is still a need for shock and stepping back in the rhythm of the small cycle level! Before the currency price fails to effectively stabilize or break through the weekly K middle track area, it is recommended to wait for the stepping back in operation, and don’t blindly chase more!
Short-term reference:
The upper pressure of short orders focuses on the 65550 weekly K middle axis position. The rebound at 65500-65800 gives an opportunity to enter the market with a light position short order, stop loss 400, and take profit around 64300.
For long orders, focus on 63900-63500 first, light position, stop loss around 400, target around 64500.
The article is delayed in sending, and the strategy suggestions are for reference only. The market changes rapidly. No matter how high your judgment of the market is, you must take the stop profit and stop loss well and put the profit in the bag.