Only with a calm mind can one achieve great success. Investing is only for making money, everything else is just empty talk. Making money is the only way. Hello everyone, I am Jinrui from the cryptocurrency circle!
Currently, as mentioned by Jinrui yesterday, there is significant upward pressure. The 1-hour chart shows signs of a head and shoulders pattern, so caution is needed for a short-term pullback.
[BTC 4-hour chart]
The horizontal line at the 4-hour level is at $63,500, coinciding with the 4-hour 25EMA, meeting the conditions for a suitable short-term long position.
As the price is moving above all EMAs, buying on dips remains the main strategy for intraday trading.
[BTC 1-hour chart]
Because the 1-hour 75EMA and 25EMA are suppressing the upward trend, if the suppression continues and moves, there may be a possibility of forming a head and shoulders pattern.
In this case, Jinrui expects the maximum decline to possibly fall to $60,000.
Therefore, today's basic strategy is to buy on dips, but friends with sufficient positions can also hold short positions as a risk hedge.
~July 19th Short-term Entry Points~
① Short at $63,800~$64,100
Stop loss: $400
Target price: $63,200
② Buy long near $63,500, based on: 4-hour 25EMA and horizontal line
Stop loss: $62,900
Target price: $65,000~$65,500
No one can predict the future, all we can do is gradually accumulate profits by facing the charts.
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I have years of in-depth research on spot contracts, BTC, ETH, and various altcoins. If you are not doing well in trading or experiencing long-term losses and being trapped in trades, you can follow my public account (Jinrui from the cryptocurrency circle). Investment involves risks, so be cautious when entering the market. The daily market situation is full of twists and turns, and all I can do is to use my years of practical experience to help everyone make correct investment decisions and manage operations in the right direction.
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