BTC will continue to rise after retreating
Updated
From the daily chart, the general trend of BTC is still rising, but although the price has risen for three consecutive, the new high has been very small, which shows that the current strength of the rise has weakened and the price may face a decline and adjustment at any time. In this case, the safest strategy is to wait for the price to fall back to an important resistance range before buying, so that the smallest stop loss can be used to gain the largest profit. At present, you can focus on the 65800-66650 resistance range.
Trading suggestion: If the price falls back to the 65800-66650 range and encounters strong resistance, you can buy, with a target of 67500-68000
Trading suggestion: If the price falls back to the 65800-66650 range and encounters strong resistance, you can buy, with a target of 67500-68000
Note
BTC rebounded directly after falling back to around 66650, and the price also rose to the target price of 68000
Note
Yesterday I said in my analysis that if BTC cannot reach a new high, the price may fall again. Today, the price fell to the resistance range below 66650 and then rebounded again. This shows that although the price increase encountered resistance, the decline also encountered strong support. In any case, from the daily chart, BTC is still on an upward trend. The safest trading idea is to buy when the price falls back to the resistance range. At present, the focus is still on the resistance range above 65800. As long as the price does not fall below 65800, it is highly likely that the upward trend will continue again.
Trading suggestion: If the price falls back to the 65800-66650 range and encounters obvious resistance, you can buy, with a target of 67500
Note
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 rebounded after encountering resistance in the resistance range above 65450. 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
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