Only with a calm mind can one achieve great success in investment. Making money is the only goal, everything else is just empty talk. Making money is the key. Hello everyone, I am Jinrui from the cryptocurrency circle!
As $59,000 is a solid support level, there is no need to be pessimistic about the market at this stage.
However, we have not completely entered an upward trend, so it is necessary to set stop-loss and take-profit orders to control risks when trading.
[BTC 4-Hour Chart]
4-hour chart strategy: Buy on dips
If the bulls supported by the 4-hour 25EMA remain dominant and there is no significant pullback, the market may continue to rise. Although the pattern is slightly incomplete, it can be considered as a double bottom forming at the bottom. It is expected to continue rising in the future as long as it does not fall below $59,000.
Last time, there was a significant rally starting from the 25EMA on the 4-hour chart, so the best approach for opening new positions is to buy on the long side with the 25EMA as support.
Additionally, the area near $62,300 (red zone) can also be considered as the neckline of a double top pattern, so buying on a pullback can also be considered here.
If the 25EMA and 50EMA form a golden cross, the bullish trend still holds the advantage.
[BTC 1-Hour Chart]
The 1-hour chart has broken through the range resistance (blue zone), so the strategy is also to buy on dips.
~June 30th Ultra-Short-term Entry Points~
- Long position on a pullback to around $62,300-$62,400
- Target: $63,000~$63,700
- Stop-loss: $61,800
- Long position with the 1-hour chart's 25EMA and 200EMA as support, entry price at $62,000.
- Target: $62,800~$63,200
- Stop-loss: $61,600
If the current price stabilizes, there may not be a significant pullback but rather a continued rise, so special attention is needed.
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