Academician of the cryptocurrency circle: July 11 Bitcoin (BTC) moving average and Bollinger Bands dual signal outbreak? Latest market analysis and operational advice explained

Currently, Bitcoin is at 64000, fluctuating repeatedly, with intense competition between the north and south, and no one-sided market in the short term. Those going north should prioritize waiting for a pullback to support levels before buying low, while those going south should only attempt short positions at strong resistance levels above. Stop-loss is the bottom line of trading; whether it is a long or short position, it must be set in advance, and one should not hold positions with wishful thinking. The profit margin in a volatile market is limited; take profit when it is good and do not be greedy for extreme points. Control the frequency of trading and strictly follow the strategic plan, steadily managing positions to protect the principal and accumulate profits in a choppy market.

The daily K-line is currently near the 23.6% Fibonacci resistance level of the previous downtrend, and it is also the rebound zone above the daily EMA15 moving average. The moving average system is still arranged downwards, with EMA30, 60, and 90 diverging downwards, indicating that the downward pressure of the big trend has not been fully resolved. The MACD indicator's DIF and DEA, after crossing above the zero line, show a continuous increase in the red bars, indicating that the short-term rebound momentum has strengthened; the middle line of the Bollinger Bands has been stabilized, the upper line constitutes current strong resistance, and the lower line is the key support below, overall in a squeezed but upward-trending phase.

The four-hour K-line has broken through the previous high point of the rebound and stands above all EMA moving averages, indicating a short-term trend that is significantly bullish. After the price touches the 23.6% Fibonacci resistance level at 63882, it slightly pulls back, and currently, it is fluctuating above that resistance level. The MACD indicator's DIF is running above the DEA, with red bars continuously releasing, indicating that upward momentum is still ongoing; the middle line of the Bollinger Bands at 63118 has turned upwards, with the upper line at 64663 and the lower line at 61573 opening upwards, and the price is near the upper line of the Bollinger Bands, suggesting that there is still upward space in the short term, but one must beware of the risk of pullback at resistance levels.

Short-term reference:

If the lower support of 63500 to 63000 does not break, go north, with a stop-loss at 62500, targeting 64500 to 65500.

If the upper resistance of 65000 to 65500 does not break, go south, with a stop-loss at 66000, targeting 64000 to 63500.

Specific operations should rely mainly on real-time market data. For more information, please consult the author. There may be a delay in article publication, hence the suggestions are for reference only, and risks are to be borne by the reader.

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