When the water is full, it will overflow; when the moon is full, it will wane; when you are complacent, you will fail; when you are proud, you will be foolish. Those who avoid reality will have an even worse future. The market will be cleansed, but only the strong ones will remain. The market is volatile, and going against the mainstream has become the norm. When many people are bearish, the bulls may be about to come. The rapid conversion between long and short always catches people off guard, and the conversion between strong and weak happens in just a moment.
Bitcoin four-hour chart
4H Bollinger Band: The current price of Bitcoin is near the middle track of the 4H Bollinger Band (69633), close to the middle track and slightly above the middle track. The Bollinger Band opening has shrunk slightly, indicating that market volatility has weakened. In the short term, the middle track of the Bollinger Band will provide certain support for the Bitcoin price.
4H MA: The current Bitcoin price is hovering around the short-term moving average MA7 (69680), showing the support of the moving average in the short term. The overall trend of the medium-term MA30 (68700) is still bullish, and the trend is still bullish in the medium and long term.
4H MACD: The DIF line and the DEA line are above the zero axis. The MACD indicator shows that it is currently in a bullish trend, but the red column has weakened, indicating insufficient upward momentum. Fortunately, there is no obvious sell signal.
4H KDJ: The K, D, and J three-line values form a golden cross at a low level, indicating that there is a chance of a rebound in the current market in the short term.
Bitcoin one-hour chart
1H MA: The current Bitcoin price fluctuates around the short-term moving average MA7 (69611). From the perspective of the medium-term moving average MA30, the current price is above MA30, but the overall trend does not look obvious and requires further waiting.
1H MACD: The DIF line and the DEA line are above the zero axis. The MACD indicator shows that it is currently in a bullish trend, but the MACD red column is short, indicating that the upward momentum is weak and no obvious sell signal has appeared yet.
1H KDJ: The 1H KDJ three-line value is in the median area, the K-line value and the D-line value are hovering near the middle and high levels, and the J-line value is in a downward trend. Although it is still in the median area as a whole, we need to be alert to the possibility of a pullback.
Comprehensive analysis: Although the MACD indicator has weak momentum, it is still in a bullish trend. Coupled with the strong support of the middle track of the Bollinger Band, the price of Bitcoin will fluctuate near the middle track of the Bollinger Band (69611) in the short term.
To sum up, the following suggestions are given for reference
Long on Bitcoin around 69600-69700, with the target at 70200. If it breaks, continue to move upward to 70800-71000, with the defense at 69300.
Ethereum long at 3800-3810, target at 3860-3880, defense at 3790.
It is better to give you a correct idea and trend than to give you a 100% accurate suggestion. After all, it is better to teach a man to fish than to give him a fish. Suggestions can make you money for a while, but ideas can make you money for a lifetime! What matters is the idea, the grasp of trends, the layout of the market and the planning of positions. What I can do is to use my practical experience to help you so that your investment decisions and business management will go in the right direction.
Writing time: (2024-05-23, 18:00)
