Only with a calm mind can one achieve great success. Investing is only for making money, everything else is just empty talk. Making money is the only way. Hello everyone, I am Jinrui from the cryptocurrency circle!
[BTC 1-hour chart]
Even on weekends, Bitcoin is slowly rising. It is currently forming an upward channel with a rising right shoulder, so the strategy for today is still to buy on dips.
In the short term, Bitcoin is rising from the 25EMA (Exponential Moving Average), so it is advisable to consider going long with the 25EMA as support.
The $66,800 level where the 25EMA is located coincides with the level that serves as support and resistance. This position has a higher advantage.
~July 21st ultra-short-term entry point~
Go long at $66,800
Stop loss: $66,200
Target price: $67,600~$68,000
If there is a pullback, the short-term target for the pullback is around $65,500 near the lower parallel channel.
This is not only the starting area for a significant rise on Friday, but also a point for long positioning.
Looking at the order book, sell orders are concentrated above $68,000, while buy orders are concentrated near $66,000.
Therefore, Jinrui's maximum profit target is set above the channel at $68,000. If Bitcoin can break through $68,000 next week, we can expect Bitcoin to challenge $70,000 again.
If there is a deep pullback on Monday or Tuesday, Jinrui believes this will be an ideal upward trend.
No one can predict the future, all we can do is gradually accumulate profits by facing the charts.
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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. The daily market situation is full of twists and turns, and all I can do is use my years of practical experience to help everyone make correct investment decisions and manage operations in the right direction.
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