The essence of trading is survival, and only then comes profit. Therefore, before each operation, think carefully about whether your actions are reasonable and whether your capital is safe. You need to develop a trading mindset that belongs to you, continuously optimizing and improving it. Although the suggestions from Hongwei on cryptocurrency may not make you rich overnight, they can ensure your presence in the market. Only those who survive in the crypto space for the long term and persist until the end can achieve the results they desire. I hope you understand.

The monthly line has been released today, and the current situation shows a high wave line. This month has seen significant fluctuations in both upward and downward movements, with fierce battles between bulls and bears. Ultimately, only the platform benefits. Opening at 1045 and closing at 1070, but with a high of 1100 and a low of 9800, the difference is 12000 points. It can be said to be quite explosive.

Yesterday, we interpreted the weekly line together. The weekly line closed with multiple bars, showing a bullish engulfing state compared to last week's K line. There is definitely a long-term bullish trend. Although the MACD momentum on the weekly K line continues to shrink, a death cross has not yet formed. So, if we are bullish in the long term, is the short-term trend favorable?

After breaking the trend on the 2-hour line, it is highly likely to decline. Currently, Bitcoin has been consolidating in this range for 5 days. The situation is that if the market breaks below the trend line, it indicates a bearish outlook. Moreover, the MACD bearish momentum continues to build, and breaking the line is just a matter of time. The support level below is at 105800. The MA5 position on the weekly K line is at 1055000. Observing the market fluctuations, we can choose to go long at lower levels more conveniently.

Hongwei's cryptocurrency strategy sharing on July 1

Bitcoin medium to long-term layout: Enter long positions at 107000-107500, add positions at 105500, take profit at 108000-109000-110000.

Ethereum medium to long-term layout: Enter long positions at 2450-2480, add positions at 2400, take profit at 2500-2550.

**——I am Hongwei, a teacher focused on technical analysis. Friends who have any questions about operations or trends can communicate and learn with me! Let's share and profit together! Remember Hongwei, always here, follow Hongwei and you won't get lost!

[The above analysis and strategies are for reference only. Please bear the risks yourself. The article review and publication may have delays, and the strategies may not be timely. Specific operations should follow Hongwei's real-time strategies.]**

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