10.11 Zhang Lihui: Bitcoin (BTC) Market Analysis and Trading Suggestions:
Last night, after the CPI data was released, U.S. stocks plummeted at the market open. After breaking below 60300, Bitcoin decisively opened a short position and made a profit. The K-line dipped below 59000, forming a long lower shadow. From the current 1-hour chart, the market rebounded after last night's dip, touching the EMA30 and the upper Bollinger Band before experiencing another pullback. The Bollinger Band is currently opening up, and the upper band is also rising. From the early morning low to now, it has rebounded nearly 2000 points, so we cannot overly exaggerate the upper space. Long positions can consider taking profit or opening shorts in the EMA60-80 range.
Because the 4-hour Bollinger Band trend is still downward, there are multiple moving average resistances above the K-line. Although the fast and slow lines are converging in a negative state, the volume is still not very strong. It is expected that the rebound strength during the day will remain weak, and attention can be paid to the breakout strength of the middle band and the EMA15 range.
On the daily level, the Bollinger Band channel has changed from a multi-day convergence trend to a downward opening. Last night's spike tested the lower space, but the downward movement of the middle band has been alleviated. Short-term indicators are still pointing downwards, and a dense area of moving averages is about to form. If it again breaks below the overlapping positions of EMA120-80-60, a significant pullback may occur. Could there be another major drop before the U.S. elections?
It is recommended to short in the 60800-61400 range during pullbacks, reserving the 61900-62100 range for adding positions, with a stop loss at 62300; take profit targets are 59900-58900-58300.
The article review and push have delays, and the market changes rapidly. Specific entry opportunities must be combined with real-time operations, with real-time notifications as the standard. The suggested points in the article are for reference only. Please ensure to set stop-loss and take-profit levels when entering, and take profits when favorable!
I, Lihui, interpret global economic news and analyze major trends in the cryptocurrency world. 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 of the article has a delay, and the above points are for reference only; risks are borne by the reader! May we always carry humility and courage in this complex cryptocurrency world, unafraid of challenges and daring to explore. Just as one travels thousands of miles, "The road is long and has no end; I will seek 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 gain insights into life. May you, under Lihui'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 Lihui, remain resilient, and forge ahead. May we, hand in hand, compose a brilliant 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. Lihui wishes to embark on this investment journey filled with challenges and opportunities with you.
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