Only with a calm mind can one achieve great success in investment. Everything else is just empty talk. Making money is the ultimate goal. Hello everyone, I am Jinrui from the cryptocurrency circle!

First, let's briefly review the strategies mentioned in Jinrui's analysis yesterday. Long positions yielded a profit of 1500 points, while short positions also gained 1300 points. In total, there was a profit of 2800 points from both long and short positions yesterday!

What is causing the current resistance to the upward trend?

1. Selling by the German government

   • Currently, the selling by the German government is causing the resistance to the upward trend.

   • The downward pressure caused by the selling is limited, so there is no need to be overly pessimistic.

2. Order book

   • There is significant selling pressure after $58,000, which is the reason for the weak upward trend.

   • However, there is strong buying support around $57,000, which may support the bottom and drive the upward trend.

     

[BTC 4-hour chart]

The resistance at the 25EMA on the 4-hour chart has been confirmed. Therefore, buying at the 25EMA as support and buying on dips before breaking the low point and trend line can be considered as a strategy. The key is whether it can break the neckline of the double bottom, which is $58,000.

• Neckline of the double bottom

• Long-term valid trend line

• Resistance of the 4H 200EMA

Based on these factors, if Bitcoin breaks through $58,000, Jinrui believes that it may lead to a significant increase.

• Long positions supported by the 25EMA can continue to be held as trading points for short-term trades.

[BTC 1-hour chart]

Currently, a triangle consolidation pattern is forming on the 1-hour chart.

~ Jinrui's ultra-short-term entry points on July 10th ~

1. Long position after breaking out from the top of the triangle consolidation, entry price is $58,100

   Target price: $58,700 to $59,700

   Stop-loss price: $57,500 (25EMA breakdown)

2. Long position near $56,500

   Stop-loss price: $56,000

   Target price: $58,000 (near 200EMA)

If the support within the consolidation range is broken, short positions can be attempted in the short term. Jinrui expects resistance to the upward trend and a possible sharp rebound followed by a decline. However, even in the event of a decline, it can still be considered a retracement phase at this stage.

For medium to long-term positions, active buying can also be done near $56,500. No one can predict the future. All we can do is gradually accumulate profits based on the charts.

If you want to receive real-time information later, please like and share to let me know 🙌🏻. If this is helpful to you, I hope you can like it ❤️ and follow me. Looking forward to your support.

I have years of in-depth research on spot contracts, BTC, ETH, and various altcoins. If you are having trouble with your trades or experiencing long-term losses and being trapped in trades, 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 use my years of practical experience to help you make the right investment decisions and manage your operations in the right direction.

The advertisements at the end of the article and in the comments section are not related to me personally!! Please be cautious in distinguishing between true and false information. Thank you for reading.

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