Master Chen 5.10: Key battle of market support and resistance, looking for transactions in the battle between long and short #BTC走势分析 #比特币盈利 #BTC $$$

BTC 1 hour:

First of all, because the downward trend line mentioned by Master yesterday has been broken, Master temporarily believes that 61000 is a support range. With the increase of the market bullish trend, if the price of BTC breaks through the suppression of the upward trend line in the short term, then we can maintain a short-term rebound bullish idea.

Although the price of the currency has rebounded to 62000, due to the increased uncertainty of the Fed's interest rate cut, BTC may still face some challenges from negative news.

In addition, because the sideways range after the previous rise may experience temporary adjustments and sideways, it is wise to master this range to trade back and forth.

The first resistance level during the day is 63250, and the second resistance level is 64000. If the price approaches the first resistance, then Master believes that it has stabilized above the rising trend line, and 63000 can be set as support, and then we can continue to maintain a bullish mindset.

In addition, due to the resistance of the 120-day moving average in the 1-hour chart, we should also pay attention to whether the price can break through the 120-day moving average in the 1-hour chart.

The first support for the day is 62600, and the second support is 62120. Master believes that the price of BTC should not be adjusted to the first support, because if the price reaches the first support again, then this will be a bearish trend again.

Of course, you can try to see a rebound in short-term trading, but if the price falls below the first support, then BTC will still turn to a bearish trend in the short term.

In today's trading, Master believes that yesterday's support near 61000 is still valid for the time being, so today I will continue to maintain a bullish mindset.

The current price is retesting the 63000 range, and it is uncertain whether it can be successfully broken through. Therefore, Master suggests that intraday trading can be handled conservatively, and wait and see near 63000 before deciding the entry trading position.

Please refer to the following information when trading

5.10 Master's short-term pre-buried orders:

Long entry reference: 62200-62600 range, long in batches, defense 500 points, target 63400-64000

Short entry reference: 63600-64000 range, short in batches, defense 500 points, target 62600-62120

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