On Tuesday, yesterday Bitcoin rose past the 645 level, climbing by nearly 1500 points. The previous text already said the price would inevitably go up. During the night, the rally was raised precisely to reach the target. So what should we look at today? You can refer to the following analysis.
On the 4-hour timeframe, the K-line has formed six consecutive bullish candles, pushing higher and breaking through the booll upper channel. After probing upward, it then printed a bearish candle. Everyone, don’t think this is a reversal and a sell signal. Actually, this is a normal pullback after a surge. Only after the pullback stabilizes and holds the upward channel can the market continue to rise more effectively. Next, you can regard the midline as the current support level. If price pulls back toward this area, you can consider entering for a bullish position.
On the daily timeframe, it also printed a strong bullish (long) candle, reclaiming the pullback space from last week. It is about to touch the upper band and then turned bearish again. Meanwhile, in the indicator MACD on the chart, the bearish momentum is gradually shrinking and converting toward bullish. In the pre-market signals, the bulls are in control. On any pullback, the outlook should still remain bullish.
It’s suggested to buy in batches on the pullback in the 63,800–63,500 area. Targets can be aimed toward the 65,000–65,400 level. The price points are for reference only #BTC☀ $BTC
On the 4-hour timeframe, the K-line has formed six consecutive bullish candles, pushing higher and breaking through the booll upper channel. After probing upward, it then printed a bearish candle. Everyone, don’t think this is a reversal and a sell signal. Actually, this is a normal pullback after a surge. Only after the pullback stabilizes and holds the upward channel can the market continue to rise more effectively. Next, you can regard the midline as the current support level. If price pulls back toward this area, you can consider entering for a bullish position.
On the daily timeframe, it also printed a strong bullish (long) candle, reclaiming the pullback space from last week. It is about to touch the upper band and then turned bearish again. Meanwhile, in the indicator MACD on the chart, the bearish momentum is gradually shrinking and converting toward bullish. In the pre-market signals, the bulls are in control. On any pullback, the outlook should still remain bullish.
It’s suggested to buy in batches on the pullback in the 63,800–63,500 area. Targets can be aimed toward the 65,000–65,400 level. The price points are for reference only #BTC☀ $BTC