Latest Analysis and Suggestions for Bitcoin Today
BTC/Daily Chart
On the daily level of Bitcoin, last week, it gradually rose with the support of the short-term 5-day moving average or 10-day moving average, undergoing a strong correction. Originally, it was expected to follow the pattern from early March, directly rising unilaterally with the support of 59500. However, the recent performance seems to have entered a trend of oscillation and decline. This kind of trend is usually quite common and tends to easily lead retail investors to doubt the bullish situation, further delaying the upward trend. As long as the current level of 57000 is not breached, it is still within the range of a strong correction. No matter how long the consolidation takes, it will eventually choose to break through.
BTC/4h Chart
On the 4-hour level of Bitcoin, there was a sustained slow decline in the early morning today, with repeated oscillation and consolidation. Through a long period of consolidation, it is digesting the downward momentum of the MACD. At this point, the fast line has already crossed below the zero axis, and after the fast and slow lines have entered below the zero axis as a whole, it is about to start brewing upward momentum. However, according to the inference based on the support area for stopping the decline, the 58400 level is at the intersection point of the upward channel. If this level is breached, the price will continue to expand its range, which means the support around 57000. Tonight, it is necessary to pay attention to the stabilization at this position and the technique of a bottoming out and pulling up at the end of the session.
Strategy 1: It is recommended to go long with a light position at 58000-57500, stop loss at 57000, and target at 59500-60500. Hold if the position is broken.
The above is a personal suggestion, for reference only. Investment involves risks, and trading should be cautious.
There may be a delay in posting, and the market is ever-changing. The levels mentioned in the article do not serve as a basis for following orders. For more information on the market and resolving orders, refer to real-time strategies.
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This article is original content by "Pionex", with over ten years of investment experience, having handled funds at the level of tens of millions, familiar with the operation of main funds, washing and absorbing chips, and lifting techniques. It can achieve the integration of knowledge and action in fund management, position control, investment portfolio, and investment mentality. Proficient in judging and analyzing the overall market trend, and well-versed in various candlestick technical tactics, with deep insights into wave theory, pattern theory, and indicator theory. Scan and follow the public account above for learning technical market trends and exchanges.
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