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1.7 Bitcoin Market Analysis Reference: Bitcoin's early morning intraday price retraced to around 91,200 and then quickly rebounded. However, due to insufficient bullish supply, the trend has not stabilized further upward. As of the time of writing, the price is around 93,100. The daily support levels are gradually moving higher, with the daily chart closing above the EMA7 (93023) for three consecutive days. The EMA7, 30, and 120 are in a bullish configuration. The current price has broken through the 93,500 integer level multiple times but faces resistance at the previous highs in the 94,400-95,000 range. Technical indicators show that on the 2-hour chart, the MACD DIF has crossed above DEA to form a golden cross, but on the daily chart, the MACD histogram shows signs of shrinking. Focus should be on the short-term resistance in the 94,500-95,500 range. Until a breakout occurs, a correction and consolidation are expected to continue. For trading, it is recommended to lightly short at high levels and go long at low levels.
1.7 Bitcoin short-term trading ideas:
- Short at 94,500-95,500 with a stop loss at 97,800, target below 94,000.
- Long at 91,500-90,500 with a stop loss at 500, target above 92,500.
1.7 Ethereum short-term strategy reference:
- Light short at 3,305-3,355 with a 30-point stop loss, target below 3,270.
- Long at 3,181-3,131 with a 30-point stop loss, target above 3,210.
The article may be delayed; strategy suggestions are for reference only. Market conditions change rapidly. Regardless of how confident you are in your market judgment, always set proper take-profit and stop-loss levels. Secure your profits and minimize risks.