Analysis and Trading Suggestions for Bitcoin BTC on October 9 (Written on May 22):
The current price of Bitcoin is around 123,200. The market dropped to the 120,000 mark early yesterday morning and has formed a slight rebound, just at the 1-hour EMA200 position. Currently, the 1H channel is trending upwards again. In the MACD, the green bars are shrinking, and the DIF and DEA failed to converge in the early morning, forming a divergence upwards. The RSI is facing resistance on the downside and is about to turn, indicating that there is still room for bulls.
In the 4H chart, the Bollinger Bands channel is skewed downwards. In the short term, attention should be paid to the contraction of the lower band, which may form key support with the EMA60. Currently, the K-line is at the middle band position, and the red bars in the MACD continue to shrink. The DIF and DEA have failed to converge successfully after a death cross on the 4th, but the coin price has not retraced much, including currently being in the third convergence phase. This indicates that the main force has been firmly defending the 120,000 mark, and there is a possibility of pushing the coin price higher again. Both KDJ and RSI are continuing to rise towards the oversold area. The suggestion is to complete short-term bullish positions, and if the convergence fails, consider entering high shorts. If it retraces to the 4H key support level, consider going long.
Sell Point: ≥115,000 light short, stop loss above 126,200; take profit at 123,200-122,300-121,400; if it breaks below 121,000, it can continue to hold near the 120,000 mark!
Buy Point: ≤121,100 light long, stop loss below 120,000; take profit at 123,200-124,100-125,000; if it breaks above 125,500, it can continue to hold!
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!
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 cryptocurrency is vast and boundless, filled with opportunities and challenges. I hope that in the days to come, you will always maintain a thirst for knowledge and a spirit of exploration for the unknown.
Remember, the cryptocurrency world is not just about numbers and charts; it is also about humanity, decision-making, and the art of 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, I wish you all shine on the stage of cryptocurrency, realizing your value and dreams. No matter when and where, I am cheering for you and looking forward to your wonderful performance. I wish everyone smooth sailing on the cryptocurrency journey and a bountiful return!
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