BitcoinUpdated BTC will rise after retreating
Yesterday, the price directly broke through the downward trend line, and the upward momentum was very strong without encountering obvious resistance. From the big trend, BTC currently shows signs of bottoming out and rebounding. Next, we need to change the bearish thinking and trade with the idea of oscillating rise or oscillation. Because BTC has been in a oscillating stage last week, from the 4-hour chart, the 61500-62300 range was the intensive trading area last week. If the price falls to this range, it may rebound.
Trading suggestion: If the price falls to the 61500-62300 range and encounters obvious resistance, you can buy long orders, with a target of 63000-63500
The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time
Trading suggestion: If the price falls to the 61500-62300 range and encounters obvious resistance, you can buy long orders, with a target of 63000-63500
The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time
Note
After the price fell back, it rose above the target range of 63000-63500 that I predicted. It is currently encountering resistance and starting to fall back. If the price falls to the range of 61500-62300 that I predicted, you can still buy long orders.
Note
Yesterday the price rose again to around 63700. I said the price might fall again. Today the lowest price fell back to around 62300, but I think the price might continue to fall back to the resistance range below 62300. From the daily chart, the price is still below the 20-day moving average. BTC has not yet entered the bull market trend from the bearish trend. Even if BTC wants to rise, it will fluctuate and rise at this stage, rather than rising rapidly. As I judged yesterday, the area below 62300 is a trading-intensive area, and the price is likely to rebound when it falls back to this range.
Trading suggestion: The price falls back to the 61500-62300 range and encounters obvious resistance. You can buy long orders with a target of 63000-63500
The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.