The cryptocurrency world is full of opportunities and challenges. We need to maintain a clear mind at all times so that we are not influenced by short-term market fluctuations. It is inevitable to encounter some setbacks in the crypto space. We must understand that every difficulty we face is a stepping stone towards success. We should learn to view problems with a long-term perspective; without taking small steps, we cannot reach great distances. The road to success is destined to be winding and long!
Feiran's Cryptocurrency Analysis on July 27 (Written at 5:30 AM) BTC Market Analysis and Trading Suggestions:
Currently, Bitcoin is around 118,000. From yesterday until now, it has basically been fluctuating upwards. Although the rise is slow, the pullbacks are very limited, indicating that bullish confidence is gradually recovering.
On the daily chart, after a long lower shadow was formed previously, today it has also closed with a small bullish candle, re-establishing itself above 117,000. Bitcoin has returned to the previous range of fluctuations, but this does not necessarily mean that the bulls are in control. The pressure above 120,000 still exists, and both bulls and bears have once again fallen into a delicate balance. On the technical indicators, the Bollinger Bands continue to narrow, and the MA20 moving average is starting to approach the smaller moving averages. With the decline in trading volume, Bitcoin is likely to continue its previous fluctuating trend.
On the 4-hour chart, Bitcoin is slowly moving above the middle Bollinger Band, with the MA5 and MA10 moving averages forming a golden cross, which is favorable for Bitcoin to continue breaking upwards. During the day, attention should be paid to the changes in MACD volume; the level of volume also determines the height of Bitcoin's upward movement during the day. It is clear that the pressure above Bitcoin is mainly concentrated around 120,000. If Bitcoin continues to strengthen during the day, the area around 120,000 is a good point for short positions. The trading strategy for the day is to short at high points and long at low points!
BTC Trading Suggestions for the Day:
Buy in batches on pullbacks at 117,000-117,500, targeting 118,500-119,500 with a stop loss at 116,500.
Short at 119,500-120,000, targeting 118,000-117,500.
The strategies in this article may have a time lag and are for reference only. Please view them rationally, and you are responsible for your own profits and losses!
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