Market laws, twists and turns, cycles of change, internal cultivation, external practice, the road ahead is long. Doubt can filter risks, but it can also lead to missed opportunities. To seize opportunities, one must be brave enough to try. Different attitudes towards life yield different results. Without great ambitions, even with the help of influential people, one will ultimately achieve little. Countless difficulties are not insurmountable. The success story of an investor is actually a history of learning and growth. Through hardships and scenery, do not forget the original intention, and you will eventually succeed.
2024.7.1 BTC————————
After the monthly closing, the price attempted to stabilize around 63000 in the short term, following the double bottom exploration at 58000 on the monthly chart. Whether 58000 can form support is a crucial point. The daily chart formed a solid candlestick above 61300, with resistance around 63500. The key level on the daily chart for the bull-bear divide is around 6600. Although there is short-term upward momentum in the early trading session, the trend still remains in a bearish trend. On the 4-hour chart, the Bollinger Bands are widening, with the price running within the rising channel, and the short-term support below is around 61500-61200. The short-term resistance at 62000 on the hourly chart will form a new resistance after being broken. In summary, it is suggested to continue shorting Bitcoin steadily for the day.
Pending Order:
Short at 63500-63800, with a 500-point stop loss, target above 800-1500 points
(The strategy can only be used once, and the profit-taking can be arranged at your discretion)
2024.7.1 ETH————————
Ethereum closed at a high on the monthly chart, with the overall upward momentum slowing down. Whether it can stop falling after the bottom exploration on the weekly chart is the focus of the follow-up. Currently, the price is still within a downtrend channel on the daily chart, with 3580 as the key level for the bull-bear divide, and resistance around 3540. On the 4-hour chart, the Bollinger Bands are flat, with 3480 providing significant resistance, and the price showing some upward momentum after finding support at 3400. The MACD indicator on the chart shows a change in the bull-bear volume, with the fast and slow lines forming a golden cross at the bottom. The key levels to watch on the 4-hour chart are 3400 support and 3480 resistance. On the hourly chart, the Bollinger Bands are running upwards, and the MACD indicator shows continued volume running, with support around 3410. In summary, it is suggested to short Ethereum on the rebound.
Pending Order:
Short at 3550-3520, with a 50-point stop loss, target above 50-100 points
(The strategy can only be used once, and the profit-taking can be arranged at your discretion)
This article is exclusively written by senior analyst Qin Chuan. He has been researching in the investment field of Bitcoin, Ethereum, futures, spot, gold, forex, and stocks for many years. Currently, he mainly guides futures operations, with solid theoretical foundation and practical experience. He is good at combining technical and fundamental analysis, focusing on capital management and risk control, and his operation style is steady and decisive. He is recognized by many investment friends for his amiable and responsible character and sharp and decisive operations. For more real-time investment strategies, trading techniques, operation skills, and knowledge of candlesticks, follow the public account: Zhao Qin Chuan.
Disclaimer: The above analysis represents the author's personal views and does not constitute specific operational advice. Trading based on this information is at your own risk. Investment carries risks, so be cautious when entering the market.
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