10.16 Zhang Lihui: Bitcoin Market Analysis and Trading Suggestions:
The current price of Bitcoin remains high. Yesterday, Lihui's low long position in the 64700-64900 range did not get filled for the first time, but the market lived up to expectations. As predicted by Lihui, the price surged last night, triggering a buying point, resulting in a profit of 1800 points. In the face of such intense volatility, a steady low long position is the best approach. As mentioned yesterday, do not chase high positions as it may lead to losses, especially when the main force is involved at high levels, which is likely to be a high-level accumulation, waiting for the right moment to sell! Meanwhile, retail investors are just waiting to be harvested!
Continuing to look at the hourly chart of Bitcoin, the Bollinger Bands are opening again, with the MA30 rising close to the lower band. It is worth noting that the lower band has not risen, and the fast and slow lines are intertwined. At this position, entering the market is not recommended as both long and short positions carry risks. One can consider entering near the MA30 position after the market breaks and oscillates, paying attention to the speed at which the MA30 rises and the position touched by the K-line;
The 4-hour Bollinger Bands are strongly upward, with balanced volume above the zero axis, and the fast and slow lines have not shown significant convergence. The bullish trend continues, and the MA30 mentioned yesterday has crossed above the MA120 line, while the lower MA60 and MA80 are also trying to rise towards the MA120. Therefore, today one can still refer to the MA10 and MA15 range that dipped last night for entry, paying attention to the K-line when approaching the MA15 position;
Based on the above indicators, Lihui believes that bullish space still exists. The suggested trading strategy remains focused on low long positions during pullbacks, and it is essential to set take-profit levels to guard against large-scale selling by the main force!
Lihui suggests taking light long positions in the 65400-65800 range during pullbacks; reserve the 64000-64400 range for additional purchases, with a stop loss of 500 points and a target of 66800-67700. If it breaks 67800-68100, it can be held until around 69000. High short positions should be arranged based on real-time changes, and one can consider entering after an upward spike;
There may be delays in article review and push notifications, 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; do not operate with heavy positions. Please set take-profit and stop-loss levels when entering, and take profits when favorable!
I, Lihui, interpret world economic news and analyze global cryptocurrency trends. During my studies in the U.S., I conducted in-depth research on cryptocurrencies such as BTC, ETH, LTC, DOT, EOS, BNB, and SOL. I welcome comments and messages from those who are unsure about trading!
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This article is exclusively published by (WeChat Official Account: Zhang Lihui) for reference only, and the risk is borne by the reader. May we remain humble and brave in the complex cryptocurrency world, unafraid of challenges and willing to explore. As the saying goes, "The road ahead is long and has no ending; yet high and low I'll search with my will unbending." I hope we keep pace with the times, absorb wisdom, travel thousands of miles, weather storms, and gain insights into life.
May you, under Lihui's guidance, leverage strengths and avoid weaknesses, create value, and remember the market's baptism, staying true to your original intentions. In the wave of digital currency, may we hold onto our beliefs, forge ahead, and together compose a brilliant future, sharing the joy of success. Let us work hand in hand to create brilliance in this investment journey filled with challenges and opportunities!
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