Analysis and Trading Suggestions for Bitcoin BTC on July 2 (Written at 7:10)
The current price of Bitcoin is nearly 105,500. In the 4H chart, the recent price is operating within a long-term descending channel. The candlestick has oscillated back down to the current lower boundary after approaching the upper boundary of the channel the day before. In the short term, the appearance of a MACD death cross indicates a strong bearish atmosphere, and the slow line is also approaching the 0 axis downwards, suggesting that the price will likely continue to test the downward trend. However, currently, since the KDJ is in the oversold range and the TD indicator "9" signal suggests a possibility of trend reversal, attention should be paid to whether it stabilizes and rebounds near the key support level.
In the medium term, as long as the downward trend is not broken, the price will mainly oscillate with a bearish bias. The weak support at the BOLL lower boundary and the opening situation indicate that the probability of further downward movement is high. It is suggested that short-term investors pay attention to the performance of the 4H key resistance level at 107,200. If this level continues to be effectively pressured, consider attempting a short position. If the EMA250 support (currently at 104,400) is lost, bulls should be cautious about entering, waiting for further adjustments to complete before considering low buy layouts or other trend establishment signals. The candlestick pattern shows a black three soldiers, indicating potential downward pressure in the short term; the hammer and doji may signal a reversal. The TD indicator shows a TD "9" pattern, suggesting that the downward momentum is weakening, and the market may stabilize, which needs to be confirmed with short-term indicators. In the KDJ, the indicator has entered the oversold range, with the J value below the K and D values, indicating a short-term rebound demand but still overall bearish. In the BOLL, the price has broken below the middle track, and the current lower track has not effectively supported, indicating increased downward pressure. In the MACD, the DIF line and DEA line have formed a death cross and are moving downwards, with the red histogram not significantly shrinking, showing that bears dominate the trend.
In summary, it is suggested that those who have reduced positions and taken profits on short positions can continue to hold, while those who have not entered can maintain high sell low buy strategies near the middle track or EMA250 support.
Sell Point: ≥106,800 short, stop loss above 107,500; take profit at 105,700-105,100-104,400; if it breaks below 104,300-104,000, you can continue to hold.
Buy Point: Pay attention to the support at the 4-hour EMA250 position and consider short-term long positions; targets can be determined based on the market. If it cannot break through the key resistance at the 4H middle track in the short term, consider reducing positions and taking profits to continue shorting.
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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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 improving 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, Hongjie cheers for you and looks forward to your wonderful performance. Hongjie wishes everyone a smooth journey in the cryptocurrency world, returning with a full load!
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