The Great Immortal said: On June 19, Bitcoin hit a new low again. Have the bulls disappeared for good?

Yesterday, Bitcoin repeatedly fell below the $66,000 mark, once dipping to an intraday low of around $65,139. The expert provided a strategy to go long in the range of $65,100-$65,300, successfully taking profits at the $67,000 mark with a gain of over 1,800 points. Although not capturing enough profit, investing emphasizes securing gains, and I hope to strive for more profit points next time. Wishing everyone profitable trades and wins on every single one.

Bitcoin 4-Hour Chart

According to the Bitcoin 4H chart, the DIF line and DEA line are below the zero axis, and the DIF line has shown a downward trend recently. The MACD histogram shows that the green bars are gradually expanding, indicating that the current market is in a weak position, and the downward momentum is increasing.

Secondly, from the KDJ indicator, we can see that the K, D, and J lines are at relatively low levels, and the J line has crossed below the K and D lines, forming an oversold condition; however, the overall pattern still leans towards weakness.

Finally, based on the Bollinger Bands indicator, the current price is located between the middle and lower bands, but close to the lower band. This pattern indicates that the market is currently in an oversold state, and the Bollinger Bands are widening, suggesting increased market volatility, which indicates the possibility of a rebound in the short term, with significant fluctuations in the range.

Bitcoin 1-Hour Chart

According to the Bitcoin 1H chart, the current DIF line is above the DEA line, but the histogram still shows green and is gradually shrinking, indicating that there may be a rebound in the short term, but the strength of the rebound is limited.

Secondly, from the KDJ indicator, the current K and D line values are hovering at low levels, and the J line is starting to turn upwards, suggesting the possibility of a rebound in the short term.

Finally, based on the Bollinger Bands indicator, the current price is operating near the lower band, and the Bollinger Bands are beginning to narrow, indicating that market volatility is starting to weaken, and a consolidation or slight rebound may occur subsequently.

Comprehensive Analysis

The 4H level shows that we are still in a downward trend, but the signals from KDJ and the lower Bollinger Band indicate that there may be a certain rebound in the short term. It is recommended to wait for more confirmation signals, such as the MACD histogram turning positive or the KDJ indicator rising further. The 1H level shows that Bitcoin may have a brief rebound, but the overall trend remains weak, and attention should be paid to the subsequent changes in MACD and KDJ.

Summary of Suggestions

Suggestion 1: Go long at 64,430, target 65,300-65,800, stop loss at 64,000.
Suggestion 2: Go short at 66,000, target 64,400-64,000, stop loss at 66,500.

Drafting Time: (2024-06-19, 01:40)