Bitcoin continues to fluctuate at high levels. Can it double top and what is the intention?

CN
8 months ago

Trend, Position Control, and Selection - The Trilogy of Success!!!

Over the weekend, Bitcoin experienced a period of calm after the excitement, and the market temporarily ceased its activities without providing much room for significant movements. Overall, it has been oscillating and recovering within the range of 62,800 to 61,300.

On a smaller time frame, the Bollinger Bands show signs of a turning point, with the lower band turning upwards, further enhancing the support for the lower point below. There are signs of a potential attempt to test the higher points, and the various moving averages are in a state of consolidation. The five-day moving average currently shows a turning upward trend, while the support below remains at the 62,000 level, which is supported by the 30-day and 60-day moving averages. As long as this position is not broken during the day, the bullish trend remains.

After the weekend consolidation, there is a high probability of an initial bullish trend during the day. The key high point to watch above is around 64,400, which is also the high point brushed out by the bulls in the previous dry spell, with a high probability of forming a double-peak pattern.

Today's strategy: Initially, focus on the bullish trend during the day. Enter long positions in the range of 61,800-62,100 for Bitcoin, and look at 63,800-64,100 above. At the same time, if a double-peak pattern emerges, enter short positions directly in the range of 64,300-64,500. In the event of a sudden change in the market, we will make on-the-spot adjustments.

Due to the impact of the review process, for subsequent on-the-spot adjustments, the real-time offline strategy is the main focus. The suggestions are for reference only. Follow my lead, make money, and you can too!!! Through wind and rain, Wolong awaits you.

WeChat Official Account: Zhuge Talks Coin

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