Only when the mind is as calm as water 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!

Due to market expectations for the US election, Bitcoin is currently in a strong upward trend. So, how much further can it rise from the current level? Next, Jinrui will briefly analyze the key points that can be grasped at the moment.

[BTC Daily Chart]

The horizontal lines on the daily chart have become both support and resistance, forming long lower shadows.

If a new position is needed for swing trading, one must wait for a suitable pullback.

As the 25-day moving average (EMA) on the daily chart marks the beginning of the upward trend, going long near the 25-day moving average is the opportunity Jinrui is looking for.

The long lower shadow is about to break through the upward trend. Due to the significant deviation from the 25-day moving average (EMA), caution is needed for deviation correction, but the ideal situation is to buy on dips.

[BTC 4-hour Chart]

On the 4-hour chart, breaking through the horizontal line that served as the main resistance, it is important to watch for the formation of a long lower shadow and stabilization near $65,000.

If it stabilizes, it is expected to rise to $67,500 and $68,000. If it falls, $62,300 and $60,500 will act as support, so buying on dips is the main strategy.

Additionally, as both the high and low points are rising, it can be seen as a strong upward trend.

In terms of swing trading, the target points are as follows:

• Buy on dips near $62,500 to $62,300. If such a pullback occurs, the risk-reward ratio will be very good.

[BTC 1-hour Chart]

~Short-term Entry Point on July 17th~

① Buy long on dips near the 25-day moving average (EMA) and the rising low point line

Entry price: $63,800

Stop loss: $63,300

Target price: $65,000 to $66,200

② Buy long near $62,500

Stop loss: $61,350

Target price: $65,000

For friends opening new positions, it is best to wait for a pullback considering the risk-reward ratio.

In an uptrend, risk management is key to avoid being caught up in price fluctuations.

No one can predict the future, all we can do is gradually accumulate profits by facing the charts.

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

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 (Jinrui from the cryptocurrency circle). Investment involves risks, so be cautious when entering the market. With the daily market fluctuations, all I can do is use my years of practical experience to help everyone make the right investment decisions and manage operations in the right direction.

The end of the article and other advertisements 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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