Bitcoin Market Analysis and Trading Reference on August 1 (Written at 1:25)
The current price of Bitcoin (BTC) is nearly 118,000. From the 4H chart, comprehensive analysis based on candlesticks and indicators shows that the market is still in a fluctuating upward trend, but the momentum is not strong. The KDJ indicates an increased risk of being in the overbought zone, with the J value at a high level showing potential overbought risk, while the K line and D line are converging, reflecting a consolidation state. The MACD green bars are shrinking, and the volume is slowing down, indicating a state of competition between bulls and bears. The DIF and DEA are close to convergence, and the histogram shortening reflects a fluctuating consolidation with alternating momentum. The RSI shows that buyers have a slight advantage, but it has not reached the overbought zone, indicating no extreme emotions. Currently, the price is supported by the short-term EMA, operating near the middle line of the BOLL, but the high points of the fluctuations have been under pressure and unable to break through. In the short term, it is still necessary to pay attention to whether the market can continue to break through key resistance levels. At the current position, it is advisable to moderately reduce long positions and monitor the breakout situation near 119,500. If the price breaks above, it may attempt to approach new high positions again; conversely, if it remains under pressure, one can continue to try high selling and re-entering. Attention should be paid to the support situation at the middle and lower tracks. The long-term moving average still shows a stable upward trend, indicating that the trend is gradually developing towards a bullish market. However, it is not advisable to blindly chase highs. The convergence of the upper and lower tracks of the BOLL indicates a narrowing of volatility, and the price being close to the middle track suggests a phase of sideways consolidation. The comprehensive suggestion is to maintain a focus on short positions near the upper track under pressure!
Buying Points Sharing: Buy long at ≤116,000, stop loss below 115,200; take profit at 117,100-118,100-119,000; if breaking above 119,500-112,000, it can be held.
Selling Points Sharing: Sell short at ≥119,100, stop loss above 120,500; take profit at 118,000-117,100-116,300, if breaking below 116,000-115,800, it can be held.
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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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, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, Red Sister cheers for you and looks forward to your wonderful performance. Red Sister wishes everyone a smooth journey in the cryptocurrency world, returning with a full load!
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