Wave in the Currency Sea: 7.16 Bitcoin (BTC) Market Analysis Reference:

The current price of Bitcoin is 64800, standing firmly above the middle track of the Bollinger Bands on the daily chart, with the price starting to recover from a low of 57770. Short-term moving averages continue to provide support, and the MACD maintains a bullish green column, with bullish momentum sustained. The KDJ indicator is gradually approaching the overbought zone, and there is resistance near the previous high around 65600. The pace of the rise has slowed, and the market has entered a high-level consolidation stage, with a short-term possibility of a pullback adjustment. If the upper resistance cannot be effectively broken, it is likely to first pull back to digest bullish profit-taking. It is crucial to avoid chasing long positions at high levels, manage positions well, and guard against the risk of a pullback after a rise.

In the short-term 4-hour timeframe, the coin price is consolidating within a narrow range below the upper track of the Bollinger Bands. The MACD golden cross continues, but bullish volume is gradually shrinking. The KDJ indicator is retracting from the overbought area, and signals of a short-term technical pullback are gradually appearing. Although the overall rebound structure has not been broken, the bullish momentum has stagnated. Focus on the support area of the middle track of the Bollinger Bands and the moving averages. If the key support fails during the pullback phase, this round of rebound will face deeper adjustments. The market is currently in a divergence consolidation phase after the rebound, with the core signal for sustained bullish momentum being to hold above the 65600 resistance level. If it remains under pressure without breaking upwards, it is necessary to guard against the risk of a pullback after a prolonged sideways movement, with core support around 63750 to watch. Before the key support is lost, it is best to treat it with a consolidation mentality; it is prudent to wait for an effective breakthrough before participating in the trend, and any entry operations must strictly carry stop losses.

Wave in the Currency Sea: 7.16 Bitcoin Short-term Reference:

Long position: go long in the range of 63200-63800, stop loss below 62300, target at 64500-65500,

Short position: go short in the range of 66200-65600, stop loss of 500 points, target at 64500-63800,

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The above analysis and strategies are for reference only. Risks are to be borne by yourself. The article's review and publication may lag, and the strategy may not have timeliness. Do not operate blindly.

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