Bitcoin's Lifeline and Turning Point: How to Master the Key Moments of the 30-Week Moving Average and Gann Angle

With the market's Fluctuation, every key moment in trading may become a turning point that determines success or failure. In the medium to long term trend of Bitcoin, the 30-week moving average undoubtedly plays a crucial role. Today, let's delve into the trend of BTC through Technical Analysis, and focus on analyzing some key technical signals and risks.

30-week moving average: BTC's "lifeline"

BTC first broke below the 30-week moving average in July 2023, marking a turning point in the market. Although in the following months, BTC repeatedly fluctuated and made several attempts to regain lost ground, the breach of the 30-week moving average still revealed a medium to long-term bearish trend in the market.

The 30-week moving average represents the direction of the medium- to long-term market trend, and once it breaks, the market may enter a weak or consolidating state. At this point, investors need to be more cautious as the likelihood of further downside in the price increases. The 30-week moving average, which can be called the "lifeline" at the weekly level, and when the 5-week moving average starts to break below the 30-week moving average, the market enters a typical "death triangle" pattern, which further validates the risk that the price may continue to decline.

Turning Point Today: Technical Analysis of Gann Angle Lines

Today, September 7th, is another market turning point worth following. According to the analysis of Gann Angle Lines, BTC has broken below the key support line of 1:1 on the daily candlestick level compared to yesterday's closing, with a fluctuation of 7.94% intra-day. Gann Angle Lines are a tool used to determine price action targets, and this break indicates that the market may further decline after a small rebound.

1:1 line, like the bull and bear boundary in the market, once effectively broken, the market will enter a new weak range. Currently, the price of BTC is about $53,800, and the first support level in the short term is below the channel line at $51,500. If this support fails to hold, BTC may continue to test the next support area, the channel extension line near $45,000.

Market Forecast and Operating Suggestions

In such a critical market environment, it is unwise to predict the future PA. The market's uncertainty is its inherent attribute, so traders should avoid subjective predictions and instead follow the trend and do well in Risk Management. Under the current trend, the risks in the market may be greater than the opportunities, so it is reasonable to remain cautious and patiently wait for a better buying opportunity.

As advocated by Jesse Livermore: 'Go with the flow.' The direction of the market is not subject to individual will. As traders, we need to respect the changes in the market, be down-to-earth, and go with the flow.

Finding opportunities in uncertain markets

The future trend of BTC is full of uncertainty, but through Technical Analysis, we can find trading opportunities and Risk Management strategies at key turning points. In the next few days, the market trend may further validate our judgment of support and resistance levels. Whether it continues to decline or sees a rebound, we need to face the market with a calm mindset and trade rationally.