Bitcoin Market Analysis and Trading Reference for July 18 (Written at 2:21):
In the cryptocurrency world, the tides change weekly. Not to mention thirty years, just this week, the market has been completely dominated by Ethereum. This time, Bitcoin is being led by Ethereum, and the key is that Bitcoin is struggling to rise. It's frustrating, isn't it? Those who wanted to go long with Bitcoin are probably starting to complain. Support levels break easily, and it's tough to pull back up! From Bitcoin's recent performance, every time it retraces, we really need to look further ahead; otherwise, it can be quite unpleasant when it sweeps down!
Bitcoin's current price is around 117,500. In the short term, the market is still in a bullish-led upward trend. On the 4-hour chart, it is clear that the mid-term moving averages are gradually rising. However, after the price reached 123,218, it entered an adjustment phase, and it may continue to oscillate within a range in the short term. The daily candlestick patterns, such as shooting stars and evening stars, have already shown top signals, while various indicators like RSI, MACD, and KDJ indicate that price momentum is weakening, and the probability of a pullback is high. The pressure on the upper Bollinger Band is also gradually becoming apparent, so we need to be cautious of a technical pullback. Additionally, the short-term moving averages EMA7 and EMA10, which have strong support, will become key points for recent price fluctuations. The current market is in a short-term pullback phase, and the upward momentum is weakening, so it is not recommended to chase long positions. We can pay attention to whether the recent support around 117,000 is effective. If the price finds support in that area, a light position can be set for a rebound. If you already hold short positions, consider gradually taking profits and reducing positions. At the same time, after the price pulls back to the support level, observe whether it continues to show bullish signals before proceeding with long positions. It is recommended to set a stop-loss below EMA10 to prevent the short-term adjustment from exceeding expectations. Focus on the effectiveness of the support in the 117,000-116,700 range, and whether MACD shows a death cross confirmation. If a death cross forms, risk control measures need to be increased. In the candlestick patterns, the shooting star on July 14 may indicate a downward reversal; the evening star and belt hold line on July 15 strengthen the bearish signal; the top formation on July 17 creates short-term resistance. In the Bollinger Bands, the current price is close to the upper band, indicating strong upward momentum but with pullback pressure, while the mid and lower bands provide solid support. RSI has retreated from high levels to the 50-70 range, indicating that the market has entered a phase of oscillation and adjustment, so we need to be cautious of further potential declines. In KDJ, the J value's retreat indicates weakening momentum, and the K line flattening suggests the market may shift from strong to oscillating adjustment. In MACD, the green bars are shortening, and the DIF is turning close to DEA, indicating a convergence, with a risk of a death cross, increasing the likelihood of short-term adjustments. The short-term moving averages are arranged in a bullish manner above, and the price is approaching the short-term moving average support, with the bullish trend still prevailing.
Buy Point: ≤117,000 long, stop-loss at 116,000; take profit at 118,300-119,100-120,000; if it breaks above 120,500-121,000, it can be held for above 122,000.
Sell Point: ≥120,000 short, stop-loss at 121,100; take profit at 118,600-116,700; if it breaks below 116,500-116,000, it can be held.
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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Thus, our journey in the cryptocurrency world begins to move towards a broader new starting point, and it is by no means the end, as the road is still long and must be walked step by step! The ocean of cryptocurrency is vast and full of opportunities and challenges. I hope you maintain your thirst for knowledge and 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, the Queen is cheering for you, looking forward to your wonderful performance. I wish everyone smooth sailing on the cryptocurrency journey and a bountiful return!
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