Bitcoin Market Analysis and Trading Reference for July 23 (Writing Time: 0:02):
The current price of Bitcoin (BTC) is around 118,800. The overall market is rising but is hindered by previous high points, showing characteristics of high-level fluctuations. Various technical indicators indicate that the bullish and bearish forces are beginning to converge, and the future trend may face adjustments. In the short term, the price may continue to fluctuate around high levels, with a risk of retracing to support. The overall trend is still dominated by bulls, but the short-term bullish momentum has shown signs of slowing down, necessitating caution for potential phase adjustments. Short-term investors can pay attention to the support strength at the middle track of the Bollinger Bands daily and the previous low of 116,100. If the price retraces to the support level and shows signs of stabilization, gradual long positions can be considered; caution is advised for chasing highs at the current position, as intensified short-term price fluctuations may pose a threat to open long positions, suggesting dynamic position management. Watch for resistance levels at 120,500 and the breakout situation of the upper track of the Bollinger Bands. If the price can effectively break through the resistance, it may initiate the next wave of upward movement. A "Doji" candlestick pattern has appeared, especially at recent highs, indicating a possible reversal or fluctuation. In the BOLL, the price is close to the upper track, with increased volatility, a clear upward trend but may face resistance at the upper track. In the MACD, the red bars are weakly expanding, and the fast and slow lines are converging, likely forming a death cross, indicating weakened upward momentum, requiring defense against strong divergence after the death cross! The RSI three lines are approaching the overbought area (around 68) but have not fully entered, showing a trend of weakening momentum. In the KDJ, the J value is below the K and D values, turning up in the oversold area, and the rebound may continue. The EMA short and medium-term moving averages (EMA10, EMA15) are continuously rising, with the market in a bullish trend and strong support, continuing to focus on short-term pullback support for long positions!
Buy Point Sharing: Buy long at ≤116,500, stop loss below 116,000; take profit at 118,000-118,900-119,800; if breaking above 120,000-120,500, it can be held to above 122,000.
Sell Point Sharing: Sell short at ≥122,000, stop loss at 123,200; take profit at 120,500-119,300-118,100.
The article review and push 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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Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means an endpoint, as the road is still long and must be walked step by step! The ocean of the cryptocurrency world is vast and boundless, filled with opportunities and challenges. I hope you will always maintain a thirst for knowledge and a spirit of exploration in the days to come.
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 enhance 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, may you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, Red Sister cheers for you, looking forward to your wonderful performance. Red Sister wishes everyone a smooth journey in the cryptocurrency world, returning with a full load!
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