$BTC Evening Viewpoint: 9.14.
Under the red arrow on the Bitcoin chart at the hourly level, the multiple bottom has already been established. This is because multiple pullbacks have not broken below the support at 76537. Moreover, the rebound broke through the consolidation range of 77577-76537 and formed a higher high, confirming that the multiple bottom on the hourly timeframe is in place.
After Bitcoin broke out of the consolidation range 77577-76537, the W-bottom inside the consolidation box was also confirmed. The neckline of the W-bottom is at 77577. As pointed to by the white arrow, after breaking the 77577 resistance level, there were multiple pullbacks to 77577 to confirm that the support was effective. With the breakout followed by a pullback confirming support, you can probably guess what to do next!
Now, the key resistance above Bitcoin is 78028. Only by breaking through 78028 can the rebound continue upward toward 78505 and higher levels. As for the pullback: as long as price does not fall back into the consolidation box of 77577-76537 again, it will not retest the previous low at 76000.
Look at the volume corresponding to the candlestick indicated by the large red arrow below. The rise came with strong volume, while the pullback saw reduced volume. This means the bulls currently have sufficient momentum—pullbacks lack strength. That’s good news for the bulls, and the opposite is good news for the bears. So we’ll just wait and see Bitcoin keep pushing upward, tick-tick higher!
Bitcoin: for the aggressive crowd chasing longs on the right side, go in after a high-volume break above 77868. If it breaks down with volume below 77328 and the subsequent retest/overshoot cannot be recovered, then chase shorts on the right side—manage and place your stop loss properly.
On the hourly timeframe: if price breaks above and holds 77868, look for 78505-79256. If it can’t get above 77868, it’s pointless.
On the 4-hour timeframe: if price breaks below 77328, look for 76773-76000.
Please check the comment section.
$BTC
#特朗普就CLARITY法案条款存疑
Under the red arrow on the Bitcoin chart at the hourly level, the multiple bottom has already been established. This is because multiple pullbacks have not broken below the support at 76537. Moreover, the rebound broke through the consolidation range of 77577-76537 and formed a higher high, confirming that the multiple bottom on the hourly timeframe is in place.
After Bitcoin broke out of the consolidation range 77577-76537, the W-bottom inside the consolidation box was also confirmed. The neckline of the W-bottom is at 77577. As pointed to by the white arrow, after breaking the 77577 resistance level, there were multiple pullbacks to 77577 to confirm that the support was effective. With the breakout followed by a pullback confirming support, you can probably guess what to do next!
Now, the key resistance above Bitcoin is 78028. Only by breaking through 78028 can the rebound continue upward toward 78505 and higher levels. As for the pullback: as long as price does not fall back into the consolidation box of 77577-76537 again, it will not retest the previous low at 76000.
Look at the volume corresponding to the candlestick indicated by the large red arrow below. The rise came with strong volume, while the pullback saw reduced volume. This means the bulls currently have sufficient momentum—pullbacks lack strength. That’s good news for the bulls, and the opposite is good news for the bears. So we’ll just wait and see Bitcoin keep pushing upward, tick-tick higher!
Bitcoin: for the aggressive crowd chasing longs on the right side, go in after a high-volume break above 77868. If it breaks down with volume below 77328 and the subsequent retest/overshoot cannot be recovered, then chase shorts on the right side—manage and place your stop loss properly.
On the hourly timeframe: if price breaks above and holds 77868, look for 78505-79256. If it can’t get above 77868, it’s pointless.
On the 4-hour timeframe: if price breaks below 77328, look for 76773-76000.
Please check the comment section.
$BTC
#特朗普就CLARITY法案条款存疑
