Crypto Circle Academician: Bitcoin Rapidly Approaching Key Double Top at 5.28! Bulls on the Verge of 'Ceiling' Latest Market Analysis Reference
Current Bitcoin Price: 110200, it is now 1 AM Beijing time. The strategy provided yesterday was validated as half of the 110000 short position exited at 108000. As usual, I did not choose to chase long but opted to wait to re-enter at 110000 to make up for the reduction, continuing to hold, leaving the rest to time. Since I have already entered the market, I will not exit completely but will take partial exits, ensuring to set stop losses and take precautions.
Daily K-line Highest: 110700, Lowest: 107500, the double top is taking shape. There is a possibility of breaking the historical high again. The market is currently filled with bullish sentiments. The EMA15 trend indicator's fast line has reached 107000, with the fast and slow lines widening the gap. The MACD shows a top divergence with decreasing volume, while the DIF and DEA are still in a death cross trend. The upper pressure level of the Bollinger Bands is at 111500, and the short stop loss can be placed 300 to 500 points above this level. The lower line is at 106000. Overall, the bullish trend is strong; one should be bullish but not chase the market. Chasing highs and selling lows is the biggest taboo in trading.
The four-hour K-line is gradually forming a double top. Friends who have not entered can attempt to short near the historical high, with the stop loss placed above the historical high. The EMA is currently in an upward state, MACD is continuously decreasing in volume and accumulating, and the Bollinger Bands are experiencing extreme contraction. The upper line is at 111000, and the lower line is at 107000. The strategy is to mainly attempt to short at the high level, with proper stop losses in place. If wrong, wait for the opportunity to find the next position to continue testing.
Short-term reference: The market is not 100% certain, so make sure to set stop losses—safety first, small losses and big profits are the goal.
For northward testing, the entry point is 106500 to 106000 long, with a defense at 105500, stop loss at 500 points, and target looking at 107500 to 108500, if broken look to 109500.
For southward reference, the entry point is 111000 to 111500 short, with a defense at 112000, stop loss at 500 points, and target looking at 110000 to 109000, if broken look to 108000.
Specific operations are based on real-time market data. For more information, please consult the author. The article is published with a delay; suggestions are for reference only and the risk is to be borne by yourself. $BTC