From the 1-hour chart, the Bollinger Bands of Bitcoin are expanding upward. After the K-line in the evening rushed up and approached below EMA250, the market fluctuated. The support level below the current price is near EMA200, and DIF and DEA have begun to close briefly. If the price breaks through these support levels, we can consider placing long orders between EMA150 and EMA120.
In the 4-hour chart, we see that the price of Bitcoin has broken through EMA30 and has risen all the way to EMA60. This position also explains why it was previously recommended to take profit on long orders above 59,500. The current price is trying to break through EMA60. Once it stabilizes at this position, we can focus on EMA80 and EMA120 as new supports. In terms of MACD, the volume above the 0 axis is not strong, and the DIF fast line has touched the 0 axis, so there may be some retracements in the short term. If you go long at this time, you need to pay attention to whether there will be a short-term pullback.
On the daily level, the lower track of the Bollinger Bands began to turn upward, indicating that the short pressure in the market is easing. After the price hit EMA200, it continued to move upward and approach the middle track. If it breaks through the middle track, we need to pay attention to the pressure level near EMA150, and the top pressure may be around 63,000. In terms of MACD, the volume below the 0 axis began to shrink, and DIF also turned, showing a positive signal. As long as the daily closing is not lower than EMA250, there is a chance to continue to go long.
Operation suggestions:
Long: If the price pulls back to the 57800-58200 range, you can consider entering the market to go long with a stop loss at 57500. The target levels are set at 59600, 60500 and 61400.
Short selling: When the price falls back to the 61500-61900 range, you can short sell with a light position and set the stop loss at 62300. The target levels are set at 60600 and 59800.
If the current retracement gives a long opportunity, then it is bullish; if the price rebounds to the set range, you can consider shorting. #加密市场反弹 #美联储何时降息？ #tia #INJ #torn $SUI $POLYX $SEI
I hope this article provides you with useful insights and inspiration for your investment decisions. I wish you great success on your financial journey! Thank you for taking the time to read this article. If you have any questions or suggestions, please leave them in the comments section. I look forward to seeing you again in future articles, and please follow my blog for the latest financial market trends and in-depth analysis!
