7.3 Mr. Coin: Bitcoin's upward movement in the evening is frequently blocked. Be cautious of potential price declines in the future.

CN
1 year ago

Bitcoin fell back as expected within the day, with multiple attempts to test the upside. In addition, the resistance above started to move downwards, and ultimately failed to break through the 64000 level.

Yesterday's article also mentioned that caution was advised for long positions. In the early trading session, a short position was suggested near 63200, and the position was closed near 62000 as expected, securing a profit of 1200 points. An additional long position was suggested near 61900 in the evening, which is currently still held.

After the price fell below the 4-hour Bollinger midline, it has now returned to trading above the midline. Looking at the daily chart, the mid-range resistance has shifted downwards, the Bollinger Bands are slowly contracting, and the MACD volume has decreased after peaking, currently focusing on the key resistance level of 63700-64000 and the support level of 60500-60800.

Intraday layout strategy:

Enter a light short position near 63200-63500-63800, add position at 64200, stop loss at 400 points, and take profit at 62500 and 62000.

Enter a long position near 60200-60500 on a price pullback, with a 400-point stop loss and a target of 61500 and 62000.

For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlesticks, follow the teacher.

The strategy is for reference only, and the specific points have a time limit. The post may be delayed, so please refer to real-time market conditions. Once again, emphasize the importance of risk control. Regardless of how confident you are in your judgment of future market trends, always set your take profit and stop loss levels!

This article is exclusively authored by the senior analyst Mr. Coin, who has been studying financial market investments for many years. Currently, he mainly analyzes and guides operations in the BTC, ETH, DOT, DOGE, LTC, FIL, EOS, XRP, BCH, ETC, BSV and other coin circle contracts and spot markets. The teacher has a solid theoretical foundation and practical experience, excels in technical and fundamental analysis, emphasizes capital management and risk control, and has a stable and decisive operational style. He is widely recognized by investment friends for his amiable and responsible character combined with decisive operations. For more real-time investment strategies, trading techniques, operational skills, and knowledge of candlesticks, follow the teacher.

  • This article is written by Mr. Coin in the coin circle, refusing to plagiarize and respecting originality!

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