Bitcoin Market Analysis and Trading Reference on July 16 (Writing Time: 0:27)
The current price of Bitcoin (BTC) is nearly 117,000. Recently, the price experienced a rise to 123,218, then fell to a low of 115,736 before rebounding again. The K-line channel is currently still within the 4H channel. In the short term, the market is influenced by the tug-of-war between bulls and bears, and there is a risk of further price correction. The short-term trend is weak, and it may test the support level near the lower boundary of 115,100. If it cannot break this level in the short term, it will continue to enter a consolidation phase. It is suggested that the current price shows a clear short-term correction signal, and it is advisable to maintain a short position rather than chasing highs. Wait for the price to stabilize near the key support level of 115,100 or face resistance again near the mid-line of 118,500 to look for short opportunities. At the same time, be cautious of the possibility that if the price effectively breaks through the mid-line, it may reach the upper boundary of 121,980!
In the long term, the EMA long-term moving averages EMA120, EMA160, and EMA200 are still trending upwards, indicating that the long-term market trend remains bullish, and the bullish pattern is still valid. However, one must be wary of the risk of the price breaking below long-term support. Recently, a doji star has appeared in the K-line pattern, suggesting a potential trend reversal or consolidation; the black three soldiers pattern indicates a strengthening downtrend. The BOLL middle channel is converging, with the price retreating to the middle-lower track, and market volatility is decreasing. Pay attention to whether it breaks the track range to confirm a new direction. The EMA short-term moving average is declining, the mid-term is flattening, and the long-term moving average remains upward, indicating that short-term correction pressure and long-term upward patterns coexist. In the MACD, the fast line has crossed below the slow line, forming a death cross, with the red bars expanding, indicating a weakening of bullish strength and a gradual dominance of bearish strength in the market. The RSI three lines have quickly retreated from the overbought zone to the neutral zone near 30, showing a weakening of bullish momentum but not yet entering the oversold state, suggesting the market may further adjust. In the KDJ, the three lines continue to decline, with the J line in the oversold zone, showing no strong rebound signals, indicating a weak short-term market, which has entered a consolidation phase after a rapid drop from high levels. In summary, it is recommended to continue focusing on short positions! If the low support does not break, it is safest to enter long positions.
Sell Point: ≥118,500 short, stop loss at 119,500; take profit at 117,500-116,300-115,200; if it breaks below 115,100-115,000, it can be held!
Buy Point: ≤115,100 long, stop loss at 114,300; take profit at 116,500-117,500-118,500; if it breaks above 118,800-119,500, it can be held;
The article review and push may have delays, and 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!
Follow the blogger to avoid getting lost in trading. Scan to add Coin Circle Hongjie, where daily benefits await your participation!
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 you will always maintain a thirst for knowledge and a spirit of exploration in the days to come.
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 smooth sailing on the cryptocurrency journey and a bountiful return!
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
