Coin Circle Jinrui: Is the right shoulder of the head and shoulders pattern forming? The short position boundary is over 61500.

CN
1 year ago

Only when the mind is as calm as water can one achieve great success in investment. Making money is the only goal, everything else is just empty talk. Making money is the key. Hello everyone, I am Jinrui from the cryptocurrency circle!

[4-hour Chart]

The key point for the potential upward movement at the 4-hour level is to break through the 25EMA moving average. Jinrui expects there may be drastic market fluctuations in the near future. However, the overall trend still looks towards a breakthrough, so Jinrui suggests that everyone should trade carefully today.

Consider re-entering the market only after gradually profiting from your trades ☝🏻, as there is a high possibility of forming the right shoulder of a head and shoulders pattern 🗝.

Therefore, Jinrui believes that the entry positions for trading today are: ① On the 4-hour chart, use the 25EMA ($63,430) as support to layout a long strategy, with a target price near $64,500 to $65,000.

② Layout a long strategy starting from the top of the right shoulder of the head and shoulders pattern, with the price near $62,700. Jinrui believes that as long as the price does not fall below the lower part of the blue descending triangle pattern ($61,500), I will continue to maintain a bullish view ⤴️.

[1-hour Chart]

Currently, the yellow area at $63,000 is very effective as both support and resistance in the short-term trend on the 1-hour chart ☝🏻. However, due to recent bullish candles being surrounded by bearish candles, if the price falls below $63,000, the market is expected to decline to around $62,700 to $62,000.

If you are considering a long position, Jinrui's recommended trading plan is: ① On the 1-hour chart, use the 25EMA ($63,229) as support to layout a long position, with a stop-loss at $63,000.

② On the 1-hour chart, use the 200EMA ($64,000) as support to layout a long position, near $64,000 (blue area), with a target price of $65,000.

As of the time of writing, the entry price at the 1-hour level is relatively difficult. Everyone can also pay attention to the trend at the 4-hour level.

If you want to receive real-time information later, please like & share to let me know 🙌🏻. If this is helpful to you, I hope you can like ❤️ and follow, and look forward to your support.

I have years of in-depth research on spot contracts, BTC, ETH, and various altcoins. If you are experiencing difficulties in trading or long-term losses, or if your trades are stuck, you can follow my public account (Jinrui in the cryptocurrency circle). Investment involves risks, so be cautious when entering the market. The market fluctuates daily, and all I can do is to provide help based on my years of practical experience, guiding your investment decisions and management in the right direction.

The end of the article and other advertisements in the comments section are not related to me personally!! Please be cautious in distinguishing between true and false information. Thank you for reading.

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