2024.7.30 Market Analysis
Bitcoin hits $70,000. Last night, affected by the news that the US government transferred BTC worth $2 billion, Bitcoin fell to $65,862. 70,000-72,000 is a heavy pressure zone, and it is also an important trend line for whether the long and short positions will reverse. Since the price of Bitcoin touched the highest price of 73,777 on March 14, it has been adjusted for 4 and a half months.
Judging from the time week, it will not be long before the bottom is completed, at least half a month, more than one and a half months, and then there will definitely be another big market. Last year, April was also adjusted to October, a full half year (185 days) of shock zone, and then ushered in a big market.
In terms of operation, short positions of Bitcoin will be adjusted to below 61,000 in batches, and full positions will be reduced at high positions, and then enter the market after the correction, maintaining 50%-60% of the position. It is also a good choice for long-term brothers to lie flat, as the saying goes, out of sight, out of mind. I think the adjustment will not last more than two months. 15-45 days is a reasonable time period! #BTC☀