q4yrf4

BTC may rise and then fall back

q4yrf4 Updated   
BITSTAMP:BTCUSD   Bitcoin
From the lines I drew in the chart, you can see that BTC is currently in a downward channel, but the price is rebounding and rising. The price is likely to fall back after rising. It is not recommended to buy after the price rises. The price may rise to the resistance range below 69130 and then fall again. There is uncertainty in today's trend, and conservatives can wait first. If the price continues to rise, you can pay attention to the 68600-68130 range.

Trading suggestion: If the price rises to the 68600-69130 range and a downward signal appears, you can sell, and the target is 67600

The above analysis is based on the current trend. I will update the market analysis in my guidance group at any time
Comment:
BTC has just suddenly surged, the magnitude is beyond expectations. The price has now broken through the downward trend line. If the price cannot fall back below the trend line again, the short-term downward trend will be reversed.
Comment:
The current price has encountered resistance below 70160 after a rapid rise. Since today's rise was too fast, the price may fall back after encountering resistance. At present, we can focus on the resistance range of 69750-70160.

If the price rebounds to the range of 69750-70160, aggressive investors can sell, with a target of 68800

The above trading suggestions are for reference only. I will update the market analysis in my guidance group at any time
Comment:
The recent plunge has already hit my profit target of 68880, another victory
Comment:

The current resistance level of 68450 is the dividing line between long and short in the short term. If the price stabilizes above 68450 and rebounds, the upward trend will continue. If it falls below 68450, it will be a downward trend in the short term.
Comment:
Yesterday the market went through a roller coaster trend. At first, I predicted that the price would fall after encountering resistance below 69130, but as soon as the CPI data was released, the price soared directly and broke through the downward trend line. This was obviously irrational behavior of the market. Later, when the price encountered resistance in the rise, I decisively sold it and seized the opportunity to fall. But then the decline was very large. The whole trend is more like international institutions jointly luring individual investors to follow suit and buy, and then the rapid decline put individual investors in trouble. This is why I was very cautious and did not buy during the rising stage. What I am most worried about is the sudden fall in prices.

The rise and fall of the market have their own internal logic. Any sudden rise and fall is difficult to sustain. This is my keen sense of market risks.

After yesterday's surge and plunge, there is great uncertainty in the market today. Although the price has fallen, it has not fallen below the resistance level of 66000. There is still a possibility of rebounding. The temporary suggestion is to pay attention to the resistance level of 68630 above and the support level of 65900 below.

Trading suggestions: Buy when it drops to around 65900, and buy after it breaks through 68630.

The above suggestions are for reference only. I will update the market analysis in my guidance group at any time
Comment:
The price just broke through 67700, and the price has a tendency to rebound upward. At present, we can pay attention to the resistance range of 67200-67600. If the price falls back to this range, a rebound signal will appear, and long orders can be bought, with a target of 68300-68500
Comment:
The price just broke through 68300, another victory
Comment:
After the price fell below 67200, it entered a rapid decline phase and is expected to fall into the 65900-66350 range. The price can be bought in this range, with a target of 66800-67000
Comment:
The price has risen to the target price of 67,000, and the victory remains!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.