BTC is trying to gain a foothold in the upward direction, will the new round of rally be able to start smoothly?
The recent outbreak of BTC bulls and the continued suppression of short positions have stabilized above the 7,000 mark for a long time. Whether the phased results can be held will determine the direction for a long time to follow. BTC rebounded after going below 7300 at the lowest level today. The recent trend has continuously oscillated in the range of 7100-7500 and sought a breakthrough. In the process, there was a strong outbreak to the previous resistance line of 7750. After a short period of consolidation, it returned to the current consolidation range again.
The daily level trend is still within the range of the middle and lower tracks of the Bollinger Bands, and the Bollinger Bands also maintain a downward closing state. The upper track and the 60-day moving average intersect above 8200 to form a high suppression. Since December, the bulls have worked hard to change the downward trend, but they are still hindered by the suppression of the middle track of the Bollinger Bands and it is difficult to start the upward trend. They can only wait for the moving average indicator to reach the support point while maintaining the current shock range, and then Taking advantage of the opportunity to break through the existing resistance, and the recent increase in trading volume is also more conducive to the start of the rally. During the operation, you can maintain a certain awareness of follow-up of low-level long orders. After this round of consolidation, there will be new upward opportunities.
Today's trend returns to above the 4-hour Bollinger Band middle track 7300 again, and fluctuates in the 7300-7500 range in a wide range. If it falls below 7300, it will go to the 7100 first-line support again. At this stage, the moving averages are arranged in a long position. However, it is still the main rhythm of shocks and upward movements. In the attached indicators, MACD returns to the top of the zero axis. After the bulls have accumulated strength during the day, they have a chance to exert their strength at night. Low-level long orders can be placed around 7300, and attention should be paid to resistance 7500 line.
Jiayong also mentioned yesterday that if it can stabilize above 7500 in the recent trend, there will be a new round of upward opportunities. At that time, it can continue to follow up to around 7800 with the operation strategy of long orders at low positions. Today's operation suggestion: more than 7300 orders, stop loss 7250, take profit 7490. Whether it is the accumulation of income in the shock, or the expansion of income in the long-short period, Jiayong will bring you the most comprehensive analysis and suggestions to help you achieve ideal results in the end. If you want to get my instant guidance and advice on more mainstream currencies Friends of friends can pay attention to the official account/Jiayong Kanbi circle.
