10.8 Li Hui: Bitcoin (BTC) Market Analysis and Trading Suggestions:
From the 1-hour chart, we can see that after the candlestick rose above 64400 last night, it has again fallen back to around 62200 this morning. The Bollinger Bands are narrowing downwards, with the upper band turning down again since last night. The MACD in the daytime is continuously decreasing and approaching the 0 axis; the DIF and DEA are again forming a convergence.
In the 4-hour chart, the Bollinger Bands are also continuing to narrow, with the middle band rising. The range-bound market is being squeezed again, and the candlestick is rebounding in the range of EMA120 and EMA80, getting closer to the middle band. The volume above the 0 axis is weak, and the DIF and DEA are converging. Pay attention to whether there is divergence or a death cross as the fast line approaches the slow line.
On the daily chart, the Bollinger Bands are also continuing to narrow, with the upper band continuously moving down and the highs being suppressed. However, the lower band is actively rising towards EMA200. The candlestick is stabilizing around EMA30 and the middle band. We can see that the distance between the fast and slow lines is continuously decreasing after forming a death cross, and the fast line is about to turn, but we must also be cautious of a second divergence.
In summary, Li Hui suggests that the main trading strategy should be to enter long positions at lower levels. Continue to watch during the daytime; if there is an opportunity to pull back to the overlapping support positions of the daily EMA30 and EMA120,80, it would be the most prudent entry. If the price rises directly without breaking yesterday's empty position, then a short position can be entered.
It is suggested to go long in the 61900-61400 range, with a stop loss at 61100; take profit targets are 62500-63400-63900.
For short positions, it is recommended to set them above 63900, targeting 1000-1500 points. Specific operations need to pay attention to real-time market changes.
The article review and push have delays; the market changes rapidly, and specific entry opportunities must be combined with real-time operations. The suggested points in the article are for reference only; please set your take profit and stop loss when entering, and take profits when available!
I, Li Hui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on BTC, ETH, LTC, DOT, EOS, BNB, SOL, and other cryptocurrencies. I welcome comments and messages from those who are not familiar with trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) and does not represent any official position. The publication review has a delay; the above points are for reference only, and the risk is borne by the reader! May we always carry humility and courage in this complex cryptocurrency world, fearlessly face challenges, and dare to explore. Just as one travels thousands of miles, "the road is long and has no end; I will search up and down." May we read thousands of books, keep pace with the times, and draw from the fountain of wisdom. Travel thousands of miles, experience storms, witness scenery, and understand life. May you, under Li Hui's guidance, receive advice and create value together. May we always remember the baptism of the market, stay true to our original intentions, and achieve our goals. In this wave of digital currency, hold on to faith with Li Hui, remain resilient, and move forward bravely. May we, hand in hand, compose a magnificent future and share the joy of success. Let us gather in the turbulent world of digital currency, not waste our youth, and create brilliance together. Li Hui wishes to embark on this investment journey full of challenges and opportunities with you.
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