Bitcoin Market Analysis and Trading Reference for July 18 (Written at 6:46):
The current price of Bitcoin (BTC) is around 120,300. The K line is currently near the upper Bollinger Band on the 4H chart and is running above the EMA moving averages. Multiple indicators show a bullish market sentiment. The appearance of the "Green Three Soldiers" pattern further confirms the upward trend in the short term, but attention should be paid to the pressure in the high area and the overbought risks indicated by some indicators. In the short term, the market is expected to continue to push higher! Currently, it is blocked by the upper band in the 120,500 area, and some fluctuations or pullbacks may occur. The short-term trend remains positive, but the possibility of a slight pullback cannot be ignored. It is suggested that at this stage, if you already hold long positions, consider partially reducing your position to secure profits while closely monitoring the performance of key resistance levels; new entrants can wait for the price to pull back to the middle Bollinger Band at 118,300 or near the EMA moving averages before entering. Caution is advised when chasing highs in the short term, and strict stop-loss measures should be set for safety. In the MACD, the DIF and DEA are above the zero axis, and the green bars are starting to expand, indicating that the bulls may strengthen again, with the overall direction still leaning bullish. The RSI three-line is close to 70, in the overbought area, and caution is needed for potential pullback risks due to divergence in the short term. In the BOLL, the price is close to the upper Bollinger Band, indicating a strong market that may attempt further breakthroughs. In the KDJ, the J value has broken 70, showing signs of overbought, and caution is needed for high-level pullbacks in the short term. The EMA moving averages are in a bullish arrangement, and the current price is above the short-term moving averages, indicating strong upward momentum. The current 4H chart shows a three-green-line pattern, indicating strong bullish sentiment in the market, which may continue to rise, but it is also necessary to guard against rapid spikes formed by upper shadows. It is suggested to wait for a pullback before going long for the safest approach!
Buy Point: ≤118,500 long, stop loss at 117,400; take profit at 119,500-120,500; breaking above 120,800-121,100 can hold for above 122,000.
Sell Point: ≥122,800 short, stop loss at 123,250; take profit at 121,100-119,200-118,300; breaking below 118,000 can hold.
The article review and push may have delays, and 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 cryptocurrency world 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 cryptocurrency is vast and boundless, filled with 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 cryptocurrency world 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 improving your professional skills. Knowledge in the financial field is constantly updating; only through 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 cryptocurrency, the brave often carve out their own territory. Finally, may you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone a smooth journey in the cryptocurrency world, returning with a full load!
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