Coin Circle Li Ying: 6.8 Bitcoin (BTC) Latest Market Interpretation and Trading Suggestions

　　Dear ones, the current price of Bitcoin is 62000. The recent drop was quite severe, plunging straight down from the high without much of a rebound in between, a typical waterfall trend. However, the good news is that the downward momentum seems to have stopped in the last couple of days, with the K-line starting to oscillate sideways, and there's even a hint of wanting to turn upward. The current state is like a long-distance runner who has just run down a slope, catching their breath and preparing to decide whether to continue rushing down or to turn back and climb up. For us retail investors, it's important not to rush to bottom fish or chase rising prices at this moment; we need to clearly see whether the main force is gearing up to take off or trying to lure in buyers to offload, because at this position, the choice of direction is crucial, and stability is the key to making profits.

　　From a technical perspective, the current signals are complex but interesting. First, looking at the EMA moving average system, although the long-term moving averages are still pressing down, indicating that the major trend remains bearish, the short-term moving averages have started to flatten out and even show signs of a golden cross. The price has already risen above EMA7 and EMA30, which is a preliminary signal of short-term strength. Next, looking at the MACD indicator, the bearish momentum at the bottom is clearly shortening, with the fast and slow lines forming a golden cross below the zero axis and diverging upwards. This means that the downward momentum is exhausting, and bullish strength is building up. Finally, regarding the Bollinger Bands, the price is currently hovering near the middle band, which is around 62613. If it can effectively break through and stabilize above the middle band, the upper space will open up; conversely, if it faces resistance and falls back, it may test the lower band support again. Overall, the indicators are at a critical point shifting from bearish to bullish.

　　Short-term references:

　　For a long position at 61500-61000, exit if it breaks below 60500, targeting above 62000 aiming for 63000.

　　For a short position at 63000-63500, exit if it falls below 64000, targeting below 62000 aiming for 61500.

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