On the 4-hour chart, the BTC price is within an ascending channel, maintaining higher highs and higher lows. It has risen 4% in the past 24 hours. The current RSI reading is 72, entering the overbought zone. The MACD indicator reflects an optimistic market outlook. The MACD is above the signal line, and the histogram is continually expanding. Buy at 110600-110900, target 111800-113000
On the 4-hour chart, the BTC price is within an ascending channel, maintaining higher highs and higher lows. It has risen by 4% in the past 24 hours. The current RSI reading is 72, entering the overbought zone. The MACD indicator reflects an optimistic market outlook. The MACD is above the signal line, and the histogram is continually expanding.
BTC and ETH continue to maintain their upward momentum, currently reaching a high of 111,871, near the 2,647 peak. Achieving a great harvest for the bulls.
The rise of BTC is driven by a variety of new and old factors, including the easing of trade tensions between China and the United States, as well as Moody's downgrade of the U.S. sovereign debt rating, prompting investors to seek alternative investment sources to the dollar. Additionally, the regulatory outlook is "very promising", risk sentiment continues to improve, and with the overnight 'triple kill' in U.S. stocks, bonds, and currencies, the rise of BTC this morning is also a natural outcome.
BTC has broken through a bullish 'megaphone' pattern that has lasted for four years, characterized by divergent trendlines, continuously rising highs, and continuously falling lows, indicating that a significant rise may occur after breaking above the resistance level.
Go long around 109,000, target 1,115,000.
Go long around 2,550 for Ethereum, target 2,650-2,700.
BTC quickly fell back, but this is not a sign of a downturn, it is merely an adjustment; the overall bullish outlook remains unchanged.
Currently, the cryptocurrency price is still maintaining an upward trend, and even if the candlestick chart pulls back, it is limited. The overall upward trend has not changed; continue to hold.
BTC's big bullish candle has taken down the area above 107985. All positions have been closed at profit. Currently, the bullish momentum is unstoppable, and all the bottoms are lifted by big bullish candles. Clearly, the moving averages can only see the tail lights of the bullish candles now, taking off from the same spot.
After reaching historical highs multiple times, the price of BTC has recently taken a roller coaster ride of sharp increases and decreases. This rare historical market trend for BTC raises the question: can ordinary people still participate amid such volatile waves? Since mid-May, the continuously rising BTC price has seen a significant drop, with the largest decline within a week approaching 5%. However, in recent days, safe-haven assets led by BTC have significantly corrected, while risk assets represented by stocks have begun to rebound.
The daily chart closed with a strong bullish candle, recovering from previous declines and stabilizing above the middle line of the Bollinger Bands. After breaking through the middle line, it has turned into support, overlapping near the early morning low. The relative strength index is at 53, indicating a current bullish trend. The MACD histogram value is a negative 24, with bearish momentum gradually shortening. The DIFF value is 14, and the DEA value is 27, with the distance between the fast and slow lines narrowing, indicating that bullish market forces are gathering. From the H4 perspective, the BTC price has broken through the resistance of the medium-term moving average and the long-term 100-day moving average. The longer the moving averages lag, the more severe the delay. It is expected that before the moving averages align in the trend, there will not be a strong unilateral movement, and it needs to continue to move sideways, with the moving averages either cooperating or showing significant upward movement. It is important to note that the Bollinger Bands are opening upwards, and the middle line is running upwards, indicating that the current trend direction is upward. After the price deviates from the upper line, it is expected to correct before rising again!
In the past, the assembly line took away your youth, static rings trapped your dreams. Now, shocks have extinguished your intensity, and sideways movements have defeated your sharpness. In the future, it will help you reclaim the lost dominance and bring back the unrestrained one-sidedness.
A thought can lead to heaven, another thought can lead to hell. Gone are the days of high-speed racing; now there is only the up-and-down dance, sometimes surging by a thousand points, sometimes plummeting by a thousand points. Anyone with poor psychological resilience has already been stunned by the city's tremors.
In the scorching summer, moving will create a breeze, and trading is no different; only by taking action will there be rewards. Currently, the BTC bottom pattern has stabilized, soaring directly this morning, taking off to the 107105 line. Of course, the bulls are unstoppable, especially with the daily chart trend, where the bullish candles continue to cover the bearish candle bodies, clearly indicating a bullish engulfing upward movement. The K-line continues to show lower shadows, which is a nightmare for bears. Buy, and continue to watch for breakthroughs.
The four-hour chart is also showing signs, with a clear arc bottom pattern that has already broken through the resistance at the 10700 line. The large bullish candle directly crushes the resistance level, converting moving average pressure into moving average support. The large bullish candle bends the moving average upward, reversing the trend. The support below is at the 104500 line, and of course, the safest level is at the 10400 line, with a focus on bullish positions during the day.
Buy in the range of 10400-104500, and look for 107000-108000.
Just now, BTC has once again dropped from around 103629 directly below 103000, and as of now, the lowest has reached around 102800. Short positions have been harvested.
From the perspective of candlestick patterns, the recent candlesticks have shown a typical consolidation trend, with small bodies and alternating upper and lower shadows, indicating that both the bulls and bears are evenly matched and the market is in a state of hesitation. In particular, the most recent candlestick has a longer lower shadow, indicating that although there is downward pressure, buying interest at lower levels remains active. Technical indicators show that there is still downward pressure on prices in the short term.
Yesterday, those who were shouting about acrophobia and dreaming of waterfalls, did your thighs get slapped again?
The current BTC price is not a matter of whether it's high or low, but a matter of whether you dare to take action. In fact, you are only one action away from an opportunity, which is to act immediately! The future upward potential of BTC is still very large! Today is still heading north, and any pullback is still an opportunity!
The price of the currency is still quite stubborn, with a strong bullish line directly pulling up, taking off directly, achieving the harvesting of Du Jun.
At noon, the short position for Bitcoin was set at 95200, The bearish market is coming on strong, As of now, The price has fallen below around 93000, Successfully capturing a profit of 2200 points, The trend is well within expectations!
The key to success in the market lies in defensive capital management. For excellent traders, the flow of funds is an indispensable part of practical operations! Three factors for long-term survival in the market:
First, strong and good psychological and emotional management.
Second, capital management, which is the most fundamental element of trading success, but most people overlook this point.
Third, a trading system that aligns with market logic.
Recently, you must control your hands. The recent market fluctuations are specifically designed to treat itchy hands and those who jump in halfway. Frequent ups and downs are commonplace. If you jump in halfway, it's hard to maintain an unbreakable mindset. If it's a significant position, whether short or long, you should have enough confidence to hold the position. Experienced traders often quote a classic saying: don't get on the bus easily, and don't get off easily. Today, BTC's short position touched the lowest point at around 94226, and if you follow along, you can make a profit.
Currently, this trend of BTC is clearly volatile, but only a deep pullback in the price creates an opportunity to go long. Recently, you may have noticed that it is easy to hit stop losses before the price rises again. This is clearly a sign that it hasn't dropped enough, so wait for a deep pullback before striking hard to avoid panic.
In the morning, the price of the coin briefly reached the 93742 level, but overall it held the bottom line, with a bullish candle soaring to around 95111. The market is currently stabilizing, and the trend is still volatile, which is also a price correction. The wider the horizontal movement, the higher the vertical movement; this is inevitable and a significant move is about to break out. Are you ready?
The BTC daily chart has the rhythm of a heavy pressure, with large bearish candles driving the price down. Any rebound is quickly countered by these large bearish candles, which is clearly a bearish trend and a clear downward pattern. The moving averages are also trending downward, indicating a clear bearish overall sentiment.
After the excitement comes the calm. The fierce battle between bulls and bears in April over BTC caused a stir in the market, followed by a process of intense washing of positions, repeatedly causing both bulls and bears to suffer losses! This morning, what seemed like a strong rise turned downward again. The biggest characteristic of a volatile market is that it doesn't continue. Watching the market rise significantly, one might want to wait for a pullback to go long, only to find themselves hitting the floor. Conversely, seeing a significant drop and thinking of shorting on a rebound, one might end up hitting the ceiling. Volatility is about back-and-forth washing of positions. Those who set stop losses during this process will repeatedly get hit, while those who don't find they can hold on. This is the difference between volatility and a one-sided market. Volatility benefits those who can hold their positions, while a one-sided market benefits those who set stop losses!