Bitcoin continues to fluctuate, just sell high and buy low within the range

Today's information:

According to news on May 24, Gong Fuwen, member of the National Committee of the Chinese People's Political Consultative Conference and president of the Shaanxi Provincial Higher People's Court, suggested that the country should quickly formulate blockchain laws. The formulation of the blockchain law should further clarify the legal relationship, rights, obligations, and liability principles, scope of responsibilities, and relief measures of the parties involved in the development and application of the blockchain, and focus on research and solutions to intellectual property rights, smart contracts, and data sharing in blockchain technology. , privacy protection and other legal issues, so that the blockchain can truly have laws to follow; the introduction of digital currency regulatory rules. It is urgent to introduce digital currency regulatory rules, strictly regulate the financing of blockchain projects, strictly prohibit the issuance and trading of digital tokens, maintain financial order, and prevent financial risks; implement the requirements for governing the Internet according to law.

Market review:

The price of Bitcoin maintained a volatile consolidation trend yesterday, with the highest price touching 9304 and the lowest touching 9081. In the early morning of the day, the price continued to fluctuate. As of 7:35 a.m., the price of Bitcoin is running around 9177.

Market analysis:

Market analysis:

On the 4-hour chart, the price is currently under pressure on the middle track of the Bollinger Bands for many times, and the trend is biased towards weak shocks. The 5-day moving average converges at the 9200 position on the 10-day moving average to suppress the price. The trend of Bollinger Bands tends to go downward. In terms of the market outlook, the author Yu Jixin believes that the price is expected to test the support at the 9080-9000 position first. Then the price went up again to test the suppression around 9220-9320. Then in the follow-up operation, it is recommended to keep selling high and buying low within the range.

Operating strategy:

Operating strategy:

1. The price steps back to the 9080 position to enter the long position, the stop loss is 9020, and the take profit position is 9180;

3. When the price touches the position of 9320 to cover the short position, the stop loss is 9400, and the stop profit position is 9180;

The author Yu Jixin sent a message:

The author Yu Jixin sent a message: