Analysis and Trading Suggestions for Bitcoin BTC on July 11 (Written at 7:54)
The current price of Bitcoin is around 116,000. It has shown a strong upward trend again in the early morning, breaking through the previous high of around 112,110 and approaching the key resistance level of 116,868, indicating that the market is dominated by bullish forces. With the support of the overall trend and multiple technical indicators, the likelihood of continued upward movement is high, but caution is needed for potential short-term technical adjustments. In the short term, the market is generally strong, but since several indicators are operating at high levels and entering the overbought zone, there may be a phase of adjustment or consolidation. Combining the "Three White Soldiers" pattern with high-level signals, the price is expected to test the resistance area of 116,868 in the short term. If it breaks through, further bullish movement is anticipated; however, if it faces resistance, it may pull back to around 112,110 to seek support.
It is suggested that investors who already hold low-position long positions can take profits and reduce their positions while continuing to observe, with a focus on the breakthrough of the resistance level at 116,868, and consider entering after a breakout accompanied by increased volume. For investors who have not yet entered the market, it is recommended to wait for the price to break through the key resistance level of 116,868 before entering; or to establish long positions when the pullback confirms the effectiveness of the support at 112,110. Attention should also be paid to the adjustment risks brought by the overbought area, and it is advised to remain vigilant after new highs, focusing on the potential rapid adjustments caused by increased volatility. The "Three White Soldiers" pattern has appeared recently, indicating strong upward momentum. In the MACD, the DIF and DEA have crossed positively, and the green bars show strong bullish momentum, indicating a high probability of continued upward movement. In the RSI, the weekly RSI (6) has reached 77.68, in the overbought zone, indicating strong short-term upward momentum but increased overbought risk. In the KDJ, the K, D, and J lines are in the overbought zone, showing sufficient buying power in the short term, but caution is advised for potential pullback risks. In the BOLL, the K line is expected to approach the upper band, with a strong trend deviating significantly from the middle band, indicating increased volatility.
Short Position Entry Point: Sell at ≥116,000, stop loss at 116,900; take profit at 2,000-3,000 points; if it breaks below 112,500-112,000, you can continue to hold.
Aggressive Long Entry Point: Buy at ≤116,900, stop loss below 116,100; take profit at 118,500-119,500; pay special attention to the 120,000 integer level!
Conservative Long Entry Point: Buy at ≤113,000, stop loss below 112,000; take profit at 114,500-115,500-116,500; if it breaks above 116,900, you can hold until the 118,500 to 120,000 range.
The article review and push may have delays; the above points are for reference only. Please grasp the timing of buying and selling yourself, and ensure proper risk control when entering the market. Do not operate with heavy positions! Thank you for reading!
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Remember, the cryptocurrency world is not just about numbers and charts; it is an art about humanity, decision-making, and the future. In investing, maintain rationality and calmness, do not be swayed by short-term fluctuations, and view the market with a long-term perspective. Keep learning and improving your professional skills. Knowledge in the financial field is constantly updating; only through continuous learning can you keep pace with the times and seize every opportunity. Be brave to try and innovate. Do not fear failure, as every failure is an opportunity for growth. In the world of cryptocurrency, the brave often carve out their own territory. Finally, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, Red Sister cheers for you and looks forward to your wonderful performance. I wish everyone a smooth journey in the cryptocurrency world, returning with a full load!
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