$BTC Coin Circle Academician: Bitcoin (BTC) at 7.2 is building up momentum—will a major-level market move be triggered at any moment? Latest market analysis and operational suggestions

Bitcoin’s current price is 59,800. Recently, I’ve also fallen into several traps in this kind of market. I clearly knew it was ranging, yet I couldn’t help chasing after rises and selling after drops. I thought I could nail the lowest point, but every time I ended up getting swept in and out, with stop-losses triggered back and forth. Holding longs made me fear a drop, while holding shorts made me fear a rally—the mindset was completely being dragged along by the market. Later, I finally understood that in a market where things are stuck neither up nor down, controlling your hands matters more than anything else. Instead of trading frequently and paying fees, it’s better to be patient and wait for the direction to become clear. In the crypto world, living is the hard truth—go slower, and you may actually go farther.

On the daily K-line, the ongoing pressure above the key resistance zone is in the 60,600-61,000 range, while the support is around 58,000. The current price is trading below multiple EMA moving averages, and the southbound (bearish) alignment has not changed, indicating that the mid-term trend is still relatively weak. The MACD indicator is running below the zero axis. Although there are signs of contraction in volume, no clear golden cross reversal signal has appeared yet. The Bollinger Bands’ opening is continuing to narrow, suggesting that a breakout window is approaching. Both the bulls and the bears are brewing a new round of confrontation; the short-term direction is still unclear, so you should focus on whether volume can cooperate.

On the four-hour K-line, a round of modest rebound began near the prior low of 57,758. It has now moved above the lower Bollinger Band and is making a push toward the middle band at 60,675. The short-term EMA lines still remain in a southbound arrangement. The price is being constrained by multiple moving averages such as EMA30 and EMA60, so the sustainability of the rebound remains doubtful. The MACD green bars are continuing to shorten, and the DIF has started to turn upward, moving closer to the DEA, with some northbound momentum showing signs of repair. But overall, the price is still within a declining channel. The Fibonacci 23.6% level at 63,882 is a strong resistance level. Only if price breaks above that level with increased volume can the short-term weakness be reversed; otherwise, the rebound is likely just a technical correction.

Short-term references:

If price does not break below 59,000 to 58,500, go long; stop loss at 58,000; targets at 60,000 to 61,000.

If price does not break above 61,000 to 61,500, go short; stop loss at 62,000; targets at 60,000 to 59,000.

Specific execution should be based mainly on the live order-book data. For more information, you can check the author’s updates. The article is published with a delay; the suggestions are for reference only—risk is borne by yourself. ‌#预测世界杯英格兰VS刚果