$BTC The key point you need to watch on short-term charts is only one: whether you can pull back and reclaim 79000 as the crucial level above. After last week’s pullback to 77000 and a brief consolidation, price has repeatedly come to 79000 trying to reclaim it, but it’s been repeatedly resisted here. If it can reclaim this level, then within a short time there is still a chance to push higher again—possibly even first setting a high point higher than 83000 before then retracing.
At present, this can still only be counted as digestion and consolidation encountered during an upward move—it’s not yet a correction specifically targeting that sudden surge. If the price can consolidate here, that is already considered very strong, because the several important moving averages the market cares most about, and the levels where bulls and bears are fighting the most intensely, are all in the 80,000 to 83,000 area. Next, the focus is on the remaining spot positions and the best right-side entry opportunity for large-scale long positions. Keep a good pace.
At present, this can still only be counted as digestion and consolidation encountered during an upward move—it’s not yet a correction specifically targeting that sudden surge. If the price can consolidate here, that is already considered very strong, because the several important moving averages the market cares most about, and the levels where bulls and bears are fighting the most intensely, are all in the 80,000 to 83,000 area. Next, the focus is on the remaining spot positions and the best right-side entry opportunity for large-scale long positions. Keep a good pace.