Contract trading is nothing more than two directions, and the first consideration for long and short entry decisions is the overall direction. Following the major trend and taking a reverse position will never be wrong! There are several points to the trading mechanism: do not operate frequently; do not hold positions in two different currencies in the same direction at the same time; the initial position should not exceed 5%, and reserve 1-2 times the opportunity for additional positions; do not add positions too close, adding positions at support and resistance levels will never be wrong, and stop loss is necessary for the second breakthrough; learn to wait for opportunities, only with patience can you find the most suitable entry point, it's better to miss than to make mistakes; after exiting, learn to review and identify the problems and advantages of opening positions; make good use of distributed position building, reducing positions, adding positions, and taking profits; review technical indicators on the market more, and look for signals of rebound and retracement; continue to improve, maintain good trading habits, guard against arrogance and impetuosity, and only by being steady and cautious can one achieve long-term profits in the industry! Li Hui will continue to uphold professional knowledge, meticulous analysis, unique position building techniques, and remain calm in the face of danger to assist every coin trader in successfully gaining valuable wealth, and continuously realize their own value in the coin circle! I hope everyone can achieve financial freedom in 2024! Keep it up!
Bitcoin Market Analysis and Trading Suggestions for August 6th:
The price of Bitcoin has finally shown some signs of recovery after a day of observation in a bearish market, giving hope to those who are stuck in long positions. Looking at the 1-hour chart, the intraday rebound high point is still around the EMA30 level. If the price breaks through the EMA30 for the second time, the EMA60 level can be seen as a perfect short position entry point. The MACD indicator continues to show increasing volume above the 0 axis, and the DIF and DEA are forming a golden cross at a low level and continue to extend upwards close to the 0 axis, but the distance is quite far. The market cannot always trend in one direction, so it is important to always pay attention to its turning points.
Looking at the 4-hour chart, the Bollinger Bands continue to diverge downwards, indicating a continued demand for retracement in the price. Intraday attention should continue to focus on the breakthrough near the midline. From the perspective of the moving average arrangement, the current bearish trend line has not been effectively relieved, so the main strategy for operation should still be focused on short positions during rebounds.
On the daily chart, the closing price may form a relatively long lower shadow, and after the previous sharp decline, the price will not immediately rise unless there is significant positive news. Therefore, the bearish aftershocks still exist, and there will definitely be a relatively long period of oscillation and retracement before returning to the peak. Looking at the moving averages, there is no obvious turning point or slowdown in the short-term indicators. It is best to focus on the rebound when EMA10 and EMA15 approach the EMA200 level.
Bitcoin is recommended to go short in the 55700-56000 range, with a reserve for adding short positions in the 57000-57300 range, and a stop loss at 57400. The target is 54300-53200; if the price breaks through the 53100-52900 range, it can be held until the 51700-51500 range.
Entering long positions at a low level requires combining real-time changes in the market for operation, and do not blindly chase after being stuck in long positions.
For more real-time trading suggestions, follow the public account under my name to learn about technical analysis of the market and how to get out of being stuck! Article reviews have delays, and the market changes rapidly, so remember to set stop-loss and take-profit levels, and take profits when the opportunity arises!
I, Li Hui, interpret world economic news, analyze global trends in the coin circle, and have conducted in-depth research on currencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL while studying in the United States. For those who do not know how to operate, you are welcome to comment and leave a message!
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This article is exclusively published by (WeChat public account: Zhang Lihui) and does not represent any official position. The release and review of the article have a time delay, and the above points are for reference only, and the risk is at your own discretion! May we always carry humility and courage in this complex coin circle, fear no challenges, and dare to explore. Just as the road ahead is long, "the road ahead is long and far-reaching, I will seek and explore." May we read thousands of books, keep pace with the times, and draw wisdom from the fountain of knowledge. After traveling thousands of miles, experiencing wind and rain, witnessing the scenery, and understanding life, may you, under the guidance of Li Hui, identify strengths and weaknesses, and create value together. May we always remember the baptism of the market, not forget our original intentions, and move forward with determination. In the wave of digital currency, holding firm to our beliefs, forging ahead with determination, may we create a brilliant future together. Let us gather in the turbulent world of digital currency, make the most of our time, and create brilliance together. Li Hui is willing to embark on this challenging and opportunistic investment journey with you.
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