Bitcoin is now maintaining consolidation around 61,000. In the short term, the price fluctuation is not strong, and both long and short sides are choosing directions. The overall trend is still biased towards weakness, so steady and trend-following operations are advisable. As the cryptocurrency market is characterized by high risk and high returns, investors must do their homework before entering the market, learning comprehensive trend analysis. Below are some tips for reading the market summarized by Mr. Bi, hoping to be helpful to everyone.

1. Looking at Long and Short Positions: Regardless of whether you prefer to go long or short, closely monitor the day's highest and lowest points, as well as the recent high and low points. If there is no breakthrough, it means the trend is maintaining consolidation, and the high and low points are converging towards the middle, indicating a contraction in the oscillation range. Conversely, if there is a breakthrough of the highest or lowest point, it means the market situation has changed. If the price continues to refresh the high point, forming a continuous upward trend, it indicates that the current trend is biased towards an upward movement.

2. Looking at Strength: After continuous rises or falls, if the trend changes significantly but does not break through key levels, this trend is often not sustainable. For example, the surge in Bitcoin on April 8th and May 20th this year did not break through the previous key levels. I mentioned in my article not to blindly chase after long positions, to guard against a market reversal, and subsequently, a strong pullback occurred. Therefore, when operating, one must pay attention to the risks and seize the short term prudently.

3. Looking at Techniques: Long-term investors should look at the daily and weekly charts to see what form the trend is in, while short-term investors should look at the four-hour or short-term charts and compare them with the previous candlestick patterns for detailed analysis. The main focus should be on the changes between support and resistance. Based on the changes in the market, adjust your operating strategy in a timely manner. Only by being flexible and adaptable can you avoid falling into an investment blind spot.

4. Looking at Trends: Although contract operations focus on the short term, both long and short positions have opportunities to profit. However, one must make a judgment on the overall market trend. For example, the current situation is an upward movement after a long period of consolidation, with the price attempting to stabilize around 61,000. This suggests that the market trend may continue further. Therefore, it is not advisable to enter long positions until the key level is reached, and holding positions should also be done with caution. For this operation, wait for a pullback or rebound and operate in line with the trend, but be mindful of taking profits near the resistance area.

5. Looking at Strategies: The market conditions vary daily, and so do the operating strategies. If you are unsure about the current operating strategy and defensive line, Mr. Bi suggests reading and communicating more, or combining yesterday's train of thought with today's trend to verify the current strategy. Remember that each person's approach may be different, so sometimes reading too many articles can be misleading and lead to misjudgment of the market. Find a reliable and responsible mentor to follow.

Mr. Bi's words of wisdom: "Those who do not plan for the whole situation are not enough to plan for a domain. The market is ever-changing and unpredictable! Set your mind, observe the situation, plan and then act. Do not be confused, do not be trapped by emotions! Only by strategizing within the tent can one win a thousand miles away. With the vastness of the water, take only what you need, do not be greedy, do not be belligerent! If your current operations are not ideal, you can come and talk to Mr. Bi. I believe my many years of trading experience can definitely help you!"

The strategy is for reference only, and the positions have a time limit. There is a delay in posting, so please refer to real-time market conditions for specific details. Once again, emphasize risk management. No matter how confident you are in judging future market trends, always set your take-profit and stop-loss levels.

This article is exclusively written and shared by the senior analyst Mr. Bi. The author has been studying financial market investments for many years, mainly analyzing and guiding operations in the cryptocurrency contract and spot markets, with a solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, emphasizing capital management and risk control, and has a steady and decisive operating style, recognized by a large number of investment friends for his amiable and responsible character. If you need to know more about real-time investment strategies, trading techniques, operating skills, and candlestick knowledge, you can follow the teacher.

• This article is written by Mr. Bi in the cryptocurrency circle, rejecting plagiarism and respecting originality!

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