Only with a calm mind can one achieve great success in investment. Making money is the only goal, everything else is just empty talk. Making money is the key. Hello everyone, I am AICoin Jinrui!
[BTC Daily Chart]
Although the current price has risen by $4,000, it is still in a range-bound state based on the daily chart. If it breaks through $71,400 (blue area), Jinrui predicts that the price will continue to rise.
As the blue area is a strong resistance zone, it may also test the lower limit of the range, dropping to around $59,000. There is also a possibility of this decline based on the daily chart. However, the overall trend is still bullish for Bitcoin until it breaks the reversal head and shoulders neckline at $67,000.
Therefore, after testing the upper parallel channel and rebounding, the price drop near $68,000 (orange area) acts as a resistance point, and it also overlaps with the daily 25EMA. Therefore, it can be "long with the support of the daily 25EMA" as the target for medium to long-term long positions.
[4-hour Chart]
$68,500 (yellow area) serves as both support and resistance. Therefore, if the price falls to this range, short-term long positions can be considered, and opportunities to go long on the 4-hour 25EMA can be observed.
[1-hour Chart]
From the 1-hour chart, it shows a strong upward trend in the formation of the range. Therefore, Jinrui believes that trading can be considered during the continued range-bound state.
Entry points: ① Long position from the pullback of the 1H 25EMA ($70,000), with a target price of $70,700-$71,400. If the price falls below this level, a small stop loss should be set immediately.
② Short position near $71,400, with a target price of $70,700. As a risk hedge, the stop loss can be set at $71,600.
③ Go long with the trend after breaking through $71,600, with a target price of $72,000-$72,200.
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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, experiencing long-term losses, or getting stuck in trades, you can follow my public account (AICoin Jinrui). Investment involves risks, so be cautious when entering the market. The market fluctuates every day, and all I can do is to use my years of practical experience to help you make the right investment decisions and manage your operations in the right direction.
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