Cryptocurrency Expert: On June 13, Bitcoin shorts were defeated, and bulls aim for historical highs? Latest market analysis reference
Current Bitcoin price is 107,700, and it's currently 1:30 AM Beijing time. Yesterday, some were predicting 120,000, and today the market is hearing voices predicting 100,000. There seems to be a hand behind the market pushing you to chase the rise and urging you to sell off; how do you choose? Follow the trend and go with the flow. Since the larger trend is bullish, if the support holds during a pullback, you can attempt to move north. Moving north from support is the most basic trading knowledge.
The daily K-line reached a high of 108,800 and a low of 106,800, just touching the EMA15 trend indicator’s fast line support. The short-term support is valid, and the idea of moving north from 107,000 is also valid; you can hold. MACD volume is increasing, and the golden cross formed by DIF and DEA above the zero line has not yet turned back into a death cross, so there’s no rush to exit. The upper pressure level is 111,300, and after three consecutive days of failing to break the upper line, the current K-line has returned above the middle line at 106,600. Focus should be on the middle line support; if it breaks, consider stop-loss; if not, you can continue to hold.
The four-hour K-line has reached the support point I mentioned yesterday, which is the northward trial point. It has started to recover, and the K-line has begun to stretch upwards from the EMA60 trend support at 10,700, aiming to challenge the trend high of 108,100. MACD volume is decreasing, and DIF and DEA remain above the zero line. Although shorts are gaining strength, the trend is still bullish in the end. The four-hour K-line has continuously tested the Bollinger Bands' lower line support at 106,800 and is starting to warm up to challenge the middle line pressure at 108,800. The current idea is predominantly bullish, and shorts should remain cautiously observant.
Short-term reference: There is no certainty in the market, so always set stop-losses; safety first. Small losses and big gains are the goal.
Northward trial point is from 107,500 to 107,000, with a defense at 106,500, stop-loss at 500 points, and target looking at 108,500 to 109,000. If broken, look at 109,500.
Southward reference point is from 110,500 to 111,000, with a defense at 111,500, stop-loss at 500 points, and target looking at 109,000 to 108,000. If broken, look at 107,000.
Specific operations should be based on real-time market data. For more information, you can consult the author. There may be delays in article publication, and the suggestions are for reference only; risks are to be borne by yourself.
