Zhang Lihui, edited at 0:55 Beijing time on June 29: Today's Bitcoin market analysis and trading suggestions:
Bitcoin continues to move towards the upward channel in the 1-hour timeframe. The evening candlestick touches the lower track and the MA30 position again moves upward. It encounters resistance at the upper track and falls back. The current level of the Bollinger Bands channel continues to remain parallel, with the lower track being elevated and then compressed again. The MA120 moving average is rising quickly and has already surpassed the low points of the previous days, indicating that the bottom support is being further adjusted upward. It can be seen that the MACD shows weak volume below the 0 axis being pulled back above the 0 axis with continued increase, but the strength of the performance is still not very strong. The fast and slow lines are also opening upward again, and the KDJ three lines are crossing with an intention to move upward. During the day, attention should continue to be paid to the strength of the volume above the 0 axis. If it cannot successfully break through 107900-108300, it is still possible to choose to enter short positions at the high points. It is said that the inflow of Bitcoin ETFs in recent days is still very large, but the market has not risen very high, indicating that speculative funds are still very rational.
In the 4-hour timeframe, the Bollinger Bands channel also continues to remain parallel. The day will continue to maintain a range of fluctuations, with the high point considering the upper track position, and the lower side looking at the intersection of the lower track and MA30 for the first support strength. The second position considers the support range of MA220, MA300, MA180, and MA120. The MACD continues to show weak volume below the 0 axis. Although it is not dropping, the dead cross has not been pulled back. The suggestion for entering short positions is to set a stop loss and hold patiently. It can be seen that the current KDJ's J line is turning downward, and the RSI three lines are starting to trend downward. Overall, the bearish momentum is still downward. Lihui suggests maintaining a focus on short positions and not trying to chase short-term long positions, as there is a risk of high-level accumulation, and a pullback can easily lead to being trapped, making it unnecessary to take that risk!
Suggested short entry point: Short positions above 107500; stop loss at 1000 points; target 107100-106700. If it breaks below 106500, it can continue to hold until below 106000.
Currently, it is not advisable to consider long positions; it is recommended to observe. The upper space has not been opened, and the market is in a narrow range of fluctuations, where the risks outweigh the rewards. It is better to wait for the market to stabilize before looking for trading opportunities. Specific strategies can be consulted with Lihui based on real-time market changes!
The specific entry opportunities at the above points can be based on Lihui's real-time notifications! The article review and push have delays, and the market changes rapidly. Specific entry opportunities must be combined with actual operations, and real-time notifications should be prioritized. The suggested points in the article are for reference only; do not operate with heavy positions. Please set take-profit and stop-loss orders when entering, and take profits when they are available!
I, Lihui, interpret world economic news and analyze the major trends in the global cryptocurrency market. During my studies in the U.S., I have conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are not familiar with trading!
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