Jin Yuhui: Mainstream and alternative cryptocurrencies counterattack, Bitcoin and Ethereum trading recommendations

CN
金宇辉
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11 months ago

Bitcoin Market Analysis: Under pressure in the Asian market, oscillating upward in the European market, and continuing to rise in the American market, the overall volatility is not significant, maintaining a relatively oscillating upward trend. The daily chart has seen four consecutive bullish candles, especially after stabilizing above the key level of $60,000, the bulls have aggressively pushed towards the $65,000 level. If the price breaks through and stabilizes at this level, the market will further target the vicinity of the $68,000 level. If under pressure, the short-term will continue to maintain a triangular consolidation pattern. After the price rebounded around $56,500 in the four-hour chart, the bulls did not experience significant pullback. Instead, they surged during a period of market adjustment, and the price also moved upward along the upper BOLL with the two major moving averages. In the short term, the key resistance above is around $66,000, while the key support below is around $62,500. From a technical perspective, the trend of the price has inclined towards the bulls. In terms of operation, we should maintain a trend-following strategy, focusing on long positions with supplementary short positions. In the early morning stage, the price range of $63,000-$65,500 should be closely monitored.

Short-term resistance above: $65,000/$65,500 Short-term support below: $63,000/$62,500

Bitcoin Real-time Trading Strategy:

  1. Buy in the range of $63,000-$63,300 on pullback, self-control stop loss, target near $64,000-$64,200;
  2. Short sell near $65,000-$65,500 on rebound, self-control stop loss, target near $63,500-$64,000;

Pay attention to Yuhui and don't get lost, Yuhui will guide you to wealth!

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