Coin Circle Jinrui 7.21: The rising channel is formed. A deep correction will have a healthy trend.

Only when the heart 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!

[BTC 1 hour chart]

Even on weekends, Bitcoin is slowly rising. An upward channel with a right shoulder is currently forming, so today's strategy is still to buy on dips.

In the short term, Bitcoin will rise at the 25EMA (exponential moving average) as the starting point, so you can consider going long with the 25EMA as support.

The $66,800 position where the 25EMA is located coincides with the horizontal line that serves as support and resistance. This point has a higher advantage.

~ July 21 ultra-short-term entry point ~

Stop loss price for long at $66,800: $66,200

Target price: $67,600~$68,000

If there is a pullback, the lower parallel channel near $65,500 is the target of the short-term pullback.

This is both the starting area of ​​the sharp rise on Friday and a point for long positions.

From the order book, sell orders are concentrated above $68,000, and buy orders are concentrated near $66,000.

Therefore, Jinrui’s maximum profit target will be set at $68,000 above the channel. If it can break through $68,000 next week, we can expect Bitcoin to challenge $70,000 again.

If there is a deep pullback on Monday or Tuesday, Jinrui believes that this will be an ideal upward trend.

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

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I have many years of in-depth research on spot contracts, BTC, ETH, and other altcoins. If you are not doing well in trading or have long-term losses and are stuck in trading, you can follow my official account (Coin Circle Jinrui). Investment is risky, and you need to be cautious when entering the market. The market is constantly changing every day. All I can do is to use my many years of practical experience to help you, so that your investment decisions and business management are on the right track.