Will Bitcoin rise again? Analyst: Short-term bearish, frequent fluctuations next week, cautious operation!Bitcoin's volatility in the few minutes before and after the US stock market opened last night exceeded the volatility of the entire day, which was undoubtedly a nightmare for high-leverage players. They might have been profitable in the first few minutes, but turned into losses in the blink of an eye
Will Bitcoin rise again? Analyst: Short-term bearish, frequent fluctuations next week, cautious operation!
Bitcoin's volatility in the few minutes before and after the US stock market opened last night exceeded the volatility of the entire day, which was undoubtedly a nightmare for high-leverage players. They might have been profitable in the first few minutes, but turned into losses in the blink of an eye. They had to choose between stopping losses or holding on and waiting for margin calls, which was a huge test of their mentality. In the current low-liquidity BTC market, only spot trading can withstand fluctuations without fear. If you use leverage, it's best not to exceed 3x.
I mentioned yesterday that those who bought the bottom at 56200 could hold on. The current price is above 59200, with a profit of over 3000 points. Spot trading already has a profit of over 5%. If you are worried about profit retracement, you can recover your principal first, and the profit can be observed further. The market usually stagnates during weekends. If you are bold, you can continue to hold and try to gain more profit.
Back to today's market analysis: From the perspective of K-line, the 1-hour and 4-hour levels show an upward trend. The 12-hour level is about to enter an upward trend (if it does not break below 58200 before 12 o'clock, it will enter an upward trend). The daily chart shows a downward trend (if the market closes positive tomorrow, it will enter an upward trend). Only when the downward structure hasn't broken out can it enter an upward structure.
Although there are opportunities for both long and short in the short term, the risk of going long is slightly higher, especially on a spike day. Because when the daily chart is in a downward trend, the rebound usually occurs gradually in 30 minutes to 12 hours, so the daily resistance is like a mountain, suppressing the rebound height and setting a fixed limit. Therefore, in the short term, the main strategy is to be bearish with the assistance of going long. The entry points for both short and long are the same, with only 1-2 operations at each position.
Next week, there will be news from Monday to Friday, which means there will be very frequent fluctuations. Every day could be a spike day. Therefore, both long and short parties need to be aware of the risks in the short term. Don't get liquidated or stop-loss due to fluctuations of a few hundred or a few thousand points in the short term. Simply place orders at the appropriate points and let time do its work. 56000 has been touched this week. I have placed an order waiting for the bottom at 56000.
It is the best choice to use different accounts for medium-term (seeking profit margins of over 10,000 points) and short-term (operations within 12-24 hours) trading.
Will Bitcoin reach 76000 in September? From the perspective of the current K-line, I think it's almost impossible. Or to be more precise, it's almost impossible to rise directly to 76000 before reaching a lower point than 49000. Because the monthly chart shows a staircase-like downward structure, how can it go higher than the 73000 high in March? This logic is like how we can't walk forward while going backward. The 73800 in March is the ceiling of the current monthly trend, and the support below is 43000. Without testing the support at 43000, it's unlikely to rise directly to above 70000, and it will be difficult to even reach 66000. Those who simply believe that the interest rate cut in September will lead to a sharp surge are simply naive. At least for now, the MACD on the 1-day chart has not yet climbed above the zero axis, so why would there be a sharp surge? When most people believe that the interest rate cut will lead to a sharp surge, will it really surge? This surge is conditional. There will be a sharp drop before there can be a sharp surge! Institutional main players are all focused on this time point. They can easily blow you up by taking unified actions in the short term.
August closed negative, and September will close positive. Let's get through August, where the bears dominate, first!
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