Academician of the Crypto Community: July 31st Bitcoin (BTC) Daily MA Convergence Signal—How to Capture the Upcoming Major Breakout Opportunity? Latest Market Analysis and Trading Suggestions Explained
Bitcoin current price is 64,800. Neither major surges nor drops have appeared yet, and the repeated price wicks can easily trigger stop-losses. Many find it hard to resist opening positions frequently, which results in the principal shrinking over time due to short-term trading. The bulls and bears remain deadlocked, with clear boundaries between overhead resistance and underlying support. In a volatile market, chasing highs and selling lows is the most dangerous. Blindly taking heavy positions to bet on a breakout will only result in passive losses. To stabilize returns at this stage, you must patiently wait for clear directional signals, strictly control your position size, identify key support and resistance levels before acting, and avoid letting short-term market fluctuations disrupt your trading rhythm.
On the daily K-line, the price is in a rebound correction range from the previous low of 57,758. EMA15 provides short-term support at 64,415, with the moving average system flattening out, indicating that a strong bullish arrangement has not yet formed. The Bollinger Bands continue to narrow, suggesting a major volatility window is approaching. The MACD indicator shows the DIF is close to the DEA, while the volume of red bars is weak, with upward momentum diminishing. According to the Fibonacci indicator, the current price is in the 58,030 to 70,501 rebound range, with first resistance at 72,620 and core support at 58,030 below. On the daily chart, until a significant breakout occurs, the overall trend remains a post-bottom-rebound consolidation box pattern.
The 4-hour K-line is stably moving above the EMA15 and EMA30, creating a short-term support range at 64,295-64,342. The middle band of the Bollinger continues to support the price at 64,085, with both upper and lower bands gradually converging, further compressing the fluctuation range. MACD maintains a mild bullish setup; the red bars extend slightly, and no top divergence signal has formed. The 23.6% Fibonacci level at 63,882 is a strong recent support, while short-term resistance is at 67,503 above. The center of price volatility is slowly rising, giving the bulls a slight short-term advantage, but upward strength is insufficient, making it difficult for the market to enter a sustained unilateral upward trend in the near term.
Short-term reference:
If 64,500 to 64,000 holds without a breakdown to the north, set stop loss at 63,500, with targets at 65,500 to 66,500 (UTC+8)
If 67,000 to 67,500 holds without a breakdown to the south, set stop loss at 68,000, with targets at 66,000 to 65,000 (UTC+8)
For specific trading actions, please rely mainly on real-time order book data. For more information, you may contact the author. As there may be publishing delays, these suggestions are for reference only and you undertake risk at your own discretion.
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