BTC will resume its upward trend
Updated
From the daily chart, although the BTC price has pulled back, it is still in an upward trend. Today, the BTC price has fallen back to the 10-day moving average. It is expected that the price will rebound. For the time being, the most stable trading strategy is to buy at the resistance level. Shorting is not recommended. Today, the price encountered resistance in the resistance range above 65450 and then rebounded. At present, you can focus on the resistance range above 65450. If the price falls back to the resistance range again, the probability of rebound is very high.
Trading suggestion: If the price falls back to the 65450-66100 range again and encounters obvious resistance, you can buy, with a target of 67000-67300
Trading suggestion: If the price falls back to the 65450-66100 range again and encounters obvious resistance, you can buy, with a target of 67000-67300
Note
The price started to rebound after falling back to around 66,100. We still need to wait to see whether it can reach the target price I mentioned.
Note
The rise of BTC was blocked, and the price once again fell back to the resistance area above 65450. As long as the price does not fall below 65,450 BTC, the upward trend will continue.Note
Yesterday I said that as long as the BTC price does not fall below 65450, the upward trend will continue, but the downward force is very strong and falls below 65450, then BTC may enter a volatile trend in the short term. Because from the daily chart, the general upward trend has not been completely reversed, but the 120-minute chart has entered a downward trend, and the price has fallen below the 50-day moving average, and the 10-day moving average and the 20-day moving average form a dead cross. The large differences in the views of the bulls and bears on the market will cause the two forces to play against each other, so there may be repeated fluctuations in the short term. At present, you can pay attention to the resistance range below 66100. If the price rebounds to this range, the probability of falling is high.
Trading suggestion: If the price rebounds to the 65450-66100 range and encounters obvious upward resistance, you can sell, with a target of 64000-64500
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