Crypto Expert: Bitcoin's medium-term trend is downward, with short-term consolidation and bottoming out; key levels for bulls and bears to battle! Latest market analysis and strategy reference.
Bitcoin is currently priced at 66,800. Trading in the crypto truly requires patience and the ability to withstand market volatility. Bitcoin's recent sideways movement is testing everyone's patience; many can't hold on and will chase highs and lows, only to be wiped out by the market. True masters wait for opportunities during periods of volatility and hold positions during trends, rather than trading frequently every day. Remember, trading is a marathon, not a sprint; survival is paramount. Don't let temporary profits or losses affect your mindset; having a plan and executing it is the key to success.
The daily candlestick chart shows a high of 67350, a low of 66240, and a closing price of 66840, a slight intraday decrease of 0.04%, with a daily range of 1.66%. The moving average system is entirely aligned downwards, with the 20-day moving average (MA20) at 69336, the 30-day moving average (MA30) at 69327, and the 60-day moving average (MA60) at 68781 all trending downwards, indicating significant price pressure and maintaining the medium-term downtrend. The MACD indicator shows a persistent green histogram, indicating continued downward momentum, albeit at a slower pace. The Bollinger Bands are widening downwards, with the price trading above the lower band. Resistance is at the middle band (74416), and support is at the lower band (64255). Overall, the market is in a weak consolidation phase, and no clear reversal signal has yet appeared.
The 4-hour moving average system is converging downwards, with the price trading below the MA20, MA30, and MA60, indicating that short-term rebounds are being suppressed by these moving averages. The MACD indicator shows a continuous shortening of the green bars, suggesting weakening bearish momentum and signs of stabilization. The Bollinger Bands are narrowing, with the price oscillating around the middle band. The upper band resistance is at 69018, and the lower band support is at 65753. The price is currently consolidating sideways, with both north and south forces relatively even, awaiting a breakout. Given the upcoming Qingming Festival, it is recommended to reduce positions over the holiday.
Short-term trading strategy: Follow the long-term trend, use small stop-loss orders, and trade quickly.
A northbound move is recommended from 65500 to 65000, with a stop-loss at 64200 and a target of 67000 to 68000, with a further target of 70000 if the price breaks through.
The upside target is 68500-68000, with a stop loss at 69300. The target is 66000-65500, and a break above that level could lead to 65000.
In the crypto, those who are prescient reap the rewards, those who are slow to react get the scraps, and those who are oblivious end up losing everything.
For specific operations, please refer to real-time market data. For more information and details, please contact the author. There may be a delay in article publication; this advice is for reference only, and you assume all risk.
