BitcoinUpdated BTC may fall back
After the BTC price fell below the important resistance level of 65,900 on Friday, the lowest point fell to around 65,000 and is currently in a rebound phase. From the 60-minute chart, the 50-day moving average is running downward and the price is also below the moving average, which is an obvious bearish trend. Even if the price rebounds now, I am still bearish. The safest trading idea is to wait for the price to rebound to the resistance range and sell. Today, the price encountered obvious resistance when it rebounded to around 66,570.
Trading suggestion: Sell when the price rebounds to the range of 66,160-66,570, with a target of 65,400
The above trading suggestions are for reference only, and I will update the market analysis in my guidance group at any time
Trading suggestion: Sell when the price rebounds to the range of 66,160-66,570, with a target of 65,400
The above trading suggestions are for reference only, and I will update the market analysis in my guidance group at any time
Note
From the daily chart, the price has fallen back to the 50-day moving average. In addition, the current rebound is very strong, and the price may rise again after falling back, so conservatives can wait and see how the price rebounds after falling back. Although the general trend is still downward, once it rebounds, the increase may exceed expectations. Perhaps wait until tomorrow when the price trend gradually becomes clear, and then make a more stable and reliable decision.
Note
From the daily chart, yesterday's closing was a small positive line, which means that the price encountered effective support near the 50-day moving average, the price decline has stopped, and the bulls are slowly gathering strength and preparing to launch an upward attack. The market trend is likely to be bullish, and the price is expected to fluctuate upward.
Currently focus on the 65830-66100 range. If the price falls back to this range, you can buy, and the target is 66800-67000
The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time
Note
The price rise is faster than expected, and it will continue to fluctuate and rise.
Note
The profit-taking range I predicted yesterday, 66800-67000, has been reached.
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.