6.8 Cryptocurrency Mr. Coin: Bitcoin (BTC) Market Analysis Reference

Yesterday's Bitcoin trend maintained a wide range of fluctuations, with lows touching around 104000 and continuously rebounding. The intraday market has been moving upward, with the current price running around 105700. The overall trend for the day has not changed; although Bitcoin has rebounded, there are significant resistances above. If these resistances cannot be broken one by one, there is a risk of a pullback in the market.

From the daily chart, the Bollinger Bands are open and parallel. Recently, the daily level has formed a double bottom structure, with the low point appearing around 100300. The hourly chart shows consecutive bullish candles breaking through the key integer level of 105000, but the last K-line has a long upper shadow. MACD: the daily DIF (777.9) is still below the zero line but is crossing upwards. The red bars at the hourly level are continuously shortening. RSI: the 14-day RSI quickly rebounded from 42 to 54, not yet in the overbought area; the hourly RSI at 64 is close to the overbought threshold of 70. EMA: the daily EMA7 (104791) has just crossed above EMA30 (103852), and the weekly EMA7 (94413) and EMA30 (66564) maintain a short-term bullish arrangement. Although the market has rebounded, it is still operating in the lower-middle band of the daily chart, and is currently approaching the middle band position. If it cannot break through, there is a risk of a price pullback. Conversely, if it breaks and stabilizes above the mid-axis resistance, the market may further move toward the resistance area of 107000. The key resistance zone above to watch is around 106500, with a focus on short positions for rebounds.

6.8 Bitcoin Short-term Reference:

Light short positions at 105800-107000, with a stop loss at 108800 and a target below 104500 with a stop loss of 500.

Long positions at 104500-103500, with a stop loss of 500, target above 105500 with a stop loss at 102500.

6.8 Ethereum Short-term Reference:

Short positions: 2625-2585, with a stop loss at 2750 and a target below 2580 with a stop loss of 50.

Long positions: 2405-2455, with a stop loss of 30 points and a target above 2500.

The article is sent with a delay, and the strategy suggestions are for reference only. The market changes rapidly; regardless of how confident you are in your market judgments, always set your take profit and stop loss correctly to secure your profits.