Analytics

BTC: The Bulls HasBeen Wrapped Up; Target $8,000

BTC rebounded strongly and stood above $7,400, and did not give the short a chance to fight back.

BTC rebounded strongly and stood above $7,400, and did not give the short a chance to fight back. The current trend has been shown, everyone should know how to make orders, especially the structure of the 4-hour pattern, and the final goal of this wave of the rebound has been given. just need to wait for the callback to find the right opportunity to enter.

The strong rise stands above the MA5 , and there is a tendency to continue to rebound. However, the final closing line is below the MA10, so today’s market will definitely have a wave of retracement and then stretch, which is also a good opportunity for us.

pay attention to the support effect of $7,400. You can enter more orders directly near this point without falling below. $7,400 is an important resistance level in the 4 hours chart, and the 4-hour head and shoulders bottom pattern is perfectly presented after the bottoming up.

In terms of operation, the spot continues to be held. At present, it is recommended that the operating contract fall back to $7,400-$7,450 to open LONG positions. The $7,700 small level pressure is seen above and the bottom is supported at 7,400.

Pay attention to the profit and stop loss and position risk control.

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