Cryptocurrency Circle Academy: Has the 7.6 Bitcoin (BTC) Long and Short Battle Officially Started? Latest Market Analysis and Trading Suggestions Explained

The current price of Bitcoin is 62800, and the significant downward trend has not been completely reversed. The short-term rebound is ultimately just a market correction; do not treat the rebound as a reversal. When trading contracts, it is essential to regard stop-loss as a baseline, keeping positions light and not heavily betting on direction; friends holding spot positions do not need to be overly anxious; during the fluctuation phase, it is sufficient to hold patiently. The market is never short of trading opportunities; preserving capital and maintaining a stable mindset are much more important than chasing short-term ups and downs.

The daily K-line is currently in the rebound correction phase of a downward trend. The price is still under pressure from the EMA15 and EMA30 moving averages, with the short-term moving average group showing a bearish arrangement. The strong resistance above is at the Fibonacci 0.786 line of 72620, while the key support below is at 58030. The MACD indicator shows a slight weakening of bearish momentum and has indications of a golden cross. The middle track of the Bollinger Bands continues to decline, with the price fluctuating near the lower track. Overall, the major trend remains bearish, but there is a demand for short-term rebound correction; caution is advised for the risk of a second dip after the rebound.

The four-hour K-line has recently shown a short-term rebound starting from 57758, with the price reclaiming the EMA15 moving average, and the short-term moving average group turning upward, presenting a bullish arrangement. The first resistance above is at Fibonacci 23.6% of 63882. If this is broken, it is likely to challenge the line of 67503; the support below is near the lower track of the Bollinger Bands at 61210. The MACD indicator's momentum has started to weaken, with DIF showing signs of turning downward. The Bollinger Bands are narrowing, and prices are operating near the middle track. The short-term battle between bulls and bears is intensifying, with insufficient rebound momentum, and under a fluctuation structure biased towards bullish, attention should be paid to whether it can hold above the 62000 mark.

Short-term reference:

If the price does not break below 62000 to 61500, go long, with a stop-loss at 61000, targeting 64000 to 65000.

If the price does not break above 64500 to 65000, go short, with a stop-loss at 65500, targeting 63500 to 62500.

Specific operations are based mainly on real-time market data. For more information details, you can consult the author. There may be delays in article release; it is advised for reference only, and the risk is taken on your own.

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