Analysis and Trading Suggestions for Bitcoin BTC on July 4 (Written at 7:15)

The current price of Bitcoin is 109,700. Recently, the price has shown an overall upward trend with fluctuations, encountering resistance near 110,500. The price movement is gradually slowing down. In the short term, the market is in a bullish pattern, but indicators such as KDJ and BOLL show that momentum is weakening, and bullish strength is entering a state of consumption. The recent price approaching the high area of 110,500 from May may form parallel pressure, and before facing significant resistance, there may even be fluctuations or slight pullbacks. Additionally, the doji candlestick pattern and some indicators' overbought signals suggest the possibility of a short-term adjustment in the market, but the overall bullish trend has not completely changed.

Suggestions from Hongjie: If you already hold long positions, you can gradually take profits in batches, especially as the price approaches the 110,000-110,530 range, while closely monitoring the resistance reaction in that area; if the price breaks through and stabilizes, you can continue to hold. The profit-taking position can refer to the resistance area near historical highs. If you plan to enter the market, it is recommended to choose a buying point near the midline of 108,000 on the 4H chart. If the price breaks through the previous high area of 110,530.17 again, the market may open up further upward space, and you can follow the trend. Conversely, if resistance is encountered above 110,500, you can consider entering short! The candlestick pattern shows a bullish engulfing pattern and a high position doji, indicating recent turning or consolidation risks. In MACD, the DIF line is above the DEA line, with a golden cross and the histogram continuously strengthening, indicating strong short-term momentum. In BOLL, the candlestick is running along the upper track, with the price approaching the upper track pressure area, indicating a strong short-term trend but potential for consolidation. In KDJ, the indicators are in the overbought zone, with the K line and D line sticking together, showing the possibility of a short-term adjustment. In MA, the short-term moving averages (MA7, MA30) are in a bullish arrangement, with a clear upward trend but needing to observe high-level pullbacks. In RSI, it is close to 60, indicating a strong trend but not overbought, with potential for continued upward movement and phase fluctuations. Although bullish momentum is strong, Hongjie does not recommend chasing at high levels; it is prudent to consider entering long positions after a pullback!

Sell Point: Short at ≥110,200, stop loss above 110,600; take profit at 109,200-108,000; if it breaks below 107,800, you can continue to hold;

Buy Point: Long at ≤108,000, stop loss below 107,500; take profit at 109,500-110,500; if it breaks above 110,600, you can continue to hold;

The article review and push have delays; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!

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Thus, our journey in the crypto circle begins to move towards a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of the crypto circle is vast and boundless, full of opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration in the days to come.

Remember, the crypto circle is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and enhance your professional skills. Knowledge in the financial field is constantly updating; only by continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of the crypto circle, the brave often carve out their own territory. Finally, I wish you all shine on the stage of the crypto circle, realizing your value and dreams. Wherever and whenever, Hongjie cheers for you, looking forward to your wonderful performance. Hongjie wishes everyone a smooth journey in the crypto circle, returning with a full load!

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