Cryptocurrency Academy: Behind the reduction in Bitcoin volume on July 26, what kind of 'abyssal change' is hidden? Latest market analysis
Current Bitcoin price is 115,000, it's now 1:30 AM Beijing time. Those who should have taken profits have done so, while those who haven't are greedily waiting for extreme opportunities. I chose to exit at 115,000 because this level belongs to medium-term support. If a valid support appears again and shows a pullback, then profits can be taken. The short-term resistance level is above 116,500; after reaching that level, one can again try lower positions. In the short term, the main force is expected to oscillate around 116,000. Friends who enjoy day trading can take advantage of this.
Looking at the daily candlestick chart, before this article was published, the highest was 118,410 and the lowest was 114,650. After losing the EMA15, the candlesticks began to stretch downwards, arriving above the EMA30 trend support at 114,250. Pay attention to the Fibonacci retracement level 0.786 trend exchange point at 113,000. The MACD has been continuously reducing volume and accumulating. The DIF and DEA are expanding downwards at a high position. The candlestick has broken through the Bollinger Band middle line at 116,300. Pay attention to the Bollinger Band lower line at 109,000, with the upper line at 123,000.
The four-hour candlestick is consolidating near the trend indicator EMA120. There is a possibility that the main force is accumulating at 115,800. The short-term bearish momentum is real, and the early stretching by the main force requires a healthy pullback. The MACD continues to reduce volume, with the DIF and DEA expanding downwards. After breaking through the Bollinger Band, it has currently returned to within the band. Pay attention to the lower support at 115,300 and the middle resistance at 118,000. With the weekend approaching, the strategy is to sell high and buy low. Most weekends do not have much volume, and the probability is that it will be a fluctuating market.
Short-term strategy reference: The market is never 100%, so be sure to set stop losses; safety first. The goal is to take small losses for big gains. Especially when breaking key resistance and support, one should stop loss rather than hold onto losing positions.
Northern trial position: from 115,000 to 114,500, with a defense at 114,000. Stop loss at 500 points, target looking at 115,500 to 116,000, with a breakout looking at 117,000 to 117,500.
Southern trial position: from 116,500 to 117,000, with defense at 117,500. Stop loss at 500 points, target looking at 116,000 to 115,500, with a breakout looking at 115,000 to 114,000.
Specific operations are based on real-time market data. For more information, please consult the author. There may be delays in the publication of this article; it is recommended for reference only. Risk is at your own expense. $BTC