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 Jinrui from the cryptocurrency circle!
Although Bitcoin has rebounded by about $3,000 in the past two days, caution is still needed regarding the formation of a double top at the daily level.
The bullish mindset during the rebound is worth paying attention to, but profits should be taken in the short term to steadily accumulate.
Jinrui's entry strategy and chart analysis have been detailed.
[BTC 4-Hour Chart]
As expected by Jinrui at the 4-hour level, the gap with the 25EMA has been filled.
At the same time, $58,000 is also an important recent support-resistance conversion level, and the current price is also under short-term pressure from the 4-hour 25EMA.
Based on these two points, it is recommended to short near the 4-hour 25EMA and use this as a reasonable risk-reward ratio trading strategy.
[BTC 1-Hour Chart]
The horizontal line support is still effective at the 1-hour level.
~July 5th Ultra-Short Entry Point~
Long position in the vicinity of $58,600 during the rebound
The orange area serves as an important recent support-resistance level, where many traders hold short positions. Therefore, if this area is broken through, Jinrui expects shorts to be forced to close, triggering further upward movement. Therefore, Jinrui recommends placing an order in this area.
Stop loss: $58,300
Target price: $59,300
Long position when the 1-hour 25EMA stabilizes, long position price: $57,400
Stop loss: $56,800
Target price: $58,400 to $59,300
$56,800 is also an important support-resistance conversion level. If the price retraces to $56,800 and rebounds, it will form a head and shoulders pattern, indicating greater potential for upward movement.
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I have years of in-depth research on spot contracts, BTC, ETH, and various altcoins. If you are experiencing difficulties in trading or long-term losses, or if your trades are stuck, you can follow my public account (Jinrui in the cryptocurrency circle). 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 everyone make the right investment decisions and manage their operations in the right direction.
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