The Great Immortal said about the coin: 6.4 market sentiment is fluctuating, Bitcoin's trend needs to be observed

Fear and greed, these two highly contagious disasters, will always sporadically emerge in the investment world. The timing of these outbreaks is unpredictable, and the market madness they cause is equally difficult to foresee in terms of duration and contagion. Therefore, we can never predict the arrival or departure of any disaster; our goal should be appropriate: we should simply be fearful when others are greedy, and greedy when others are fearful. ------ Warren Buffett
Bitcoin 4-Hour Chart

Looking at the Bollinger Bands on the 4H level, the current market is in a consolidation phase, with the MACD line and signal line (DIF and DEA) entangled near the zero axis, indicating a lack of clear direction in the market. The fluctuations in the histogram (red and green bars) are small, suggesting that there is no obvious trend in the market. The KDJ trend also indicates that the market is in a wait-and-see state, with no clear buy or sell signals. In this situation, if the DIF line breaks above the DEA line, it may indicate that prices will rise. Conversely, if the DIF line breaks below the DEA line, it may signal a price decline. At the same time, the Bollinger Bands also show low market volatility, with prices fluctuating near the middle band. If prices break above the upper band at 69649, it may indicate a strong upward trend. Additionally, the moving average chart shows prices fluctuating around the MA20. If prices can steadily stay above the MA20, it may indicate the start of a new upward trend.
Bitcoin 1-Hour Chart

First, from our 1H level Bollinger Bands indicator, the current price of Bitcoin is close to the middle band at 69037, but slightly below it, indicating that prices are fluctuating in the middle area. At the same time, the Bollinger Bands are gradually narrowing, suggesting that market volatility is decreasing and a directional breakout may be brewing. Looking at the MACD indicator, the DIF line is below the DEA line, and the distance between them is gradually widening, showing a bearish signal. The MACD histogram shows that the red momentum bars are weakening while the green momentum bars are gradually increasing, indicating that bearish strength is weakening and bullish strength may be accumulating. The KDJ indicator shows that the K line and D line are below 50, and the J line has a downward breakout trend, indicating significant selling pressure. However, the KDJ is currently in a low area and may form a golden cross, which is a potential buy signal.
In summary, the current market sentiment may be in a state of consolidation. Although the MACD shows a short-term bearish trend, the changes in the momentum bars indicate that bearish strength is weakening. At the same time, if the KDJ forms a golden cross while prices stabilize, the price of Bitcoin may rise, retesting the Bollinger Bands middle band at 69037 or even the upper band at 69341. However, if prices continue to decline and the MACD remains in the negative region, it may test the support level at the lower band at 68742.
Based on the above, the following suggestions are provided for reference:
Suggestion 1: Go long near 68700, target 69680, stop loss at 68200
Suggestion 2: Go short near 69680, target 68350, stop loss at 70000
Instead of giving you a 100% accurate suggestion, I would rather provide you with a correct mindset and trend. After all, teaching a person to fish is better than giving them fish; suggestions may earn you temporarily, but learning the mindset will earn you for a lifetime! The focus is on the mindset, grasping the trend, and planning the market layout and positions. What I can do is use my practical experience to help everyone, guiding your investment decisions and management in the right direction.
Written on: (2024-06-04, 19:00)